July 6, 2007 -- In June, the Toronto Area resale housing market was nearly 20 per cent more active than a year ago, Toronto Real Estate Board President Donald Bentley announced today. The 10,451 sales recorded in the month were also just shy of the 11,146 sales that made May TREB's most active single month ever.
"This market is very healthy and shows no signs of letting up," Mr. Bentley said. "The strong spring we've seen is carrying through to the summer months, and that has helped to push this year's total activity past 2006 by
nearly 11 per cent."
Toronto's Danforth / Woodbine Heights area (E03) saw overall transactions jump by 32 per cent compared to last June, with gains across most housing types.
Strong sales of condominium apartments and town homes in Mississauga's Northwest Cooksville (W15) area contributed to an overall increase in activity of 57 per cent compared to June 2006.
Detached home sales in Bayview / Hillcrest Village (C15) nearly doubled as overall transactions increased by 39 per cent compared to June of last year.
Just north of the city, Richmond Hill's southern portion (N03) saw a 48 per cent increase in transactions compared to the same timeframe one year ago.
"The current market is exceeding expectations because it has very solid fundamentals to build upon," TREB's President added. "We have seen good returns on investment, and a strong economy and low borrowing costs have kept homes accessible. It's a great time to be in the market."
Sunday, July 8, 2007
TREB Launches www.nohomebuyingtax.com
July 5, 2007 -- TREB has launched a website www.nohomebuyingtax.com to help the public understand what the proposed Toronto land transfer tax will cost them.
View the site here: http://www.nohomebuyingtax.com/
TREB is also running a series of advertisements in the Toronto Star and selected community newspapers to focus on the constituency of undecided councillors before the Toronto Council vote on July 16 on the land transfer tax.
View the site here: http://www.nohomebuyingtax.com/
TREB is also running a series of advertisements in the Toronto Star and selected community newspapers to focus on the constituency of undecided councillors before the Toronto Council vote on July 16 on the land transfer tax.
Best June Ever!!
July 6, 2007 -- Last month the Toronto Real Estate Market recorded 10,451 sales for the best June performance ever, Toronto Real Estate Board President Donald Bentley announced today. "June's figure was up almost 20 per cent over the 8,730 sales recorded during the same month in 2006, and down only slightly (six per cent) from May's best-ever figure of 11,146 sales. To get some idea of the current strength of the market: there have been more sales in the last two months (21,597) than occurred in all of 1977 (20,512), thirty years ago this year."
While the sales pace remained brisk, average prices declined marginally (less than one per cent) from May to $381,963. The year-to-date average was $373,719, up five per cent over the first six months of 2006 ($356,977).
"Price increases remain only modest," noted the President. "Inventory, at 21,789, is robust enough to keep a lid on upward inflation. The current market is still accessible to first-time buyers, and should continue in this mode for the foreseeable future."
While the sales pace remained brisk, average prices declined marginally (less than one per cent) from May to $381,963. The year-to-date average was $373,719, up five per cent over the first six months of 2006 ($356,977).
"Price increases remain only modest," noted the President. "Inventory, at 21,789, is robust enough to keep a lid on upward inflation. The current market is still accessible to first-time buyers, and should continue in this mode for the foreseeable future."
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