TORONTO, June 5 /CNW/ - In May the Toronto Area resale housing market
experienced its most active month ever as 11,146 homes changed hands, Toronto
Real Estate Board President Dorothy Mason announced today. The total for the
month was 18 per cent higher than May of 2006.
"The level of activity has been very strong through the spring, but it
jumped to another level in May," Mrs. Mason said. "Overall, our year-to-date
figures show that sales are about eight per cent ahead of last year's pace."
In West Agincourt E05, condominium activity more than doubled as overall
sales increased by 39 per cent compared to last May.
Condominiums are by far the most common housing type in Toronto's
downtown/Harbourfront neighbourhood C01, where transactions jumped 37 per cent
overall compared to May of 2006.
In the Cooksville/Port Credit area of Mississauga W12, 41 per cent more
transactions took place compared to a year ago.
North of Toronto in Vaughan Centre N08, overall resale activity increased
by 40 per cent compared to the same timeframe in 2006.
With the average price just five per cent higher than a year ago, at
$382,787, Mrs. Mason noted that the market is a strong investment, yet still
"We have an excellent combination of healthy, controlled price increases
and a very high level of activity," Mrs. Mason said. "People are demonstrating
that it's a great time to start out in the market or switch to a different
Toronto REALTORS(R) are passionate about their work. They adhere to a
strict code of ethics and share a state-of-the-art Multiple Listing Service.
Its 23,739 listings resulted in May's 11,146 sales. Serving more than 25,000
Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada's
largest real estate board. Greater Toronto Area open house listings are now
available on www.TorontoRealEstateBoard.com.
For further information:
For further information: Wendy Craven Director, Public Relations,
Toronto Real Estate Board, Office: (416) 443-8159, Email: firstname.lastname@example.org