Home resales up 24 per cent in first half of June

    TORONTO, June 19 /CNW/ - During the first fifteen days of June, resale
home transactions jumped 24 per cent compared to the same timeframe a year
ago, Toronto Real Estate Board President Dorothy Mason announced today. The
first half of the month yielded a remarkable 5,074 sales, an increase of 1,000
transactions from last year's mid-June figures. This total was also
12 per cent higher than the 4,522 sales recorded in the first half of May,
which ended as the most active month ever.
    "We are going through one of the strongest spring markets ever,"
Mrs. Mason said. "There is a lot of momentum carrying over from that and it
bodes well as we move into summer."
    In Scarborough Centre/Woburn (E09), sales of detached homes doubled as
38 per cent more overall transactions took place compared to mid-June a year
    Alderwood/Mimico (W06) in Toronto's west end saw an overall increase in
activity of 50 per cent compared to figures from last year.
    Toronto's Annex neighbourhood (C02) saw the number of transactions to
mid-June increase by 61 per cent compared to 2006.
    Outside the city, brisk sales of town homes and detached homes in central
Vaughan (N08) led the way as overall transactions increased 53 per cent over
the same timeframe a year ago.
    The average price of a resale home at mid-month was $384,576, an increase
of seven per cent over the $358,648 recorded during the first half of June
2006. Inventory stood at 23,725 listings, reflecting a good amount of choice
and helping to keep price increases under control.
    "We have strong local and national economies, great value in the
marketplace and solid returns on investment," TREB's President said. "It's an
excellent time to be in the market, and savvy consumers are taking advantage
of these great conditions."

    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 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, 24-Hour Cell: (416)
277-7390, Email: wcraven@trebnet.com

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