August sets the stage for a strong autumn market

    TORONTO, Sept. 6 /CNW/ - More people in the Greater Toronto Area bought
resale homes last month than in any August before, Toronto Real Estate Board
President Donald Bentley announced today.
    The 8,059 sales reported last month exceeded the previous best
performance for August, set in 2005, by seven per cent.
    August also brought year-to-date figures up 13 per cent over the same
period last year. So far this year 67,146 homes have sold as compared to
59,488 at this time in 2006. The pace is also 13 per cent ahead of the same
timeframe in 2005, which became the best year on record.
    "With five consecutive record-breaking months, spring and summer activity
was unprecedented and given the strong economic fundamentals that remain in
place, we have tremendous confidence in the autumn housing market," said Mr.
    The Greater Toronto Area's strongest sales activity in August took place
in widely diverse neighbourhoods.
    In West Agincourt (E05) a jump in the sale of detached homes and condo
apartments resulted in a 34 per cent overall increase compared to last August.
    An increase in the sale of detached homes and condo apartments also
resulted in an overall increase of 52 per cent in High Park (W02).
    In Toronto's Davisville (C10) the sale of semi-detached homes and condo
apartments pushed overall activity in the district to a 58 per cent increase
over August 2006.
    Richmond Hill South (N03) showed a 43 per cent increase, led by condo
apartment and detached home sales.
    "Prices moderated in August, down approximately one per cent from the
previous month, meaning that there will be many opportunities within reach
during this autumn market," said Mr. Bentley.

    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.
Serving more than 26,000 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 available on

For further information:

For further information: For All Media/Public Inquiries: Mary Gallagher,
Manager, Media Relations, Toronto Real Estate Board, Office: (416) 443-8158,
Cell: (416) 419-8133,

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