Resale market shows strongest summer performance

    TORONTO, Aug. 3 /CNW/ - Last month, the local resale market was 26 per
cent more active than during the same time in 2006, recording a July record
8,912 sales, TREB President Donald Bentley announced today.
    "Currently, year-to-date transactions stand at 59,339, up 13 per cent
over the first seven months of last year," Mr. Bentley said. "And with June
and July both setting records, we are now seeing the strongest summer
performance by our local resale market since records have been kept."
    Toronto's Riverdale area (E01) saw a 73 per cent increase in transactions
over June 2006, fueled by increases in almost every house type.
    Strong sales of detached homes and condominium apartments in the South
Humber part of Etobicoke (W07) contributed to a 116 per cent increase in total
transactions over the same time last year.
    A large increase in condominium apartment sales was responsible for a 40
per cent increase in total sales for North York (C14).
    Transactions in Richmond Hill (N04) increased 77 per cent over July 2006,
due to a 100 per cent increase in attached/row-house sales and strong
performances in most other house types.
    "The market is building on some very strong economic fundamentals," noted
the TREB President. "And low borrowing costs have kept homes within reach of a
broad segment of the population."

    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

For further information:

For further information: Mary Gallagher, Manager, Media Relations,
Toronto Real Estate Board, (416) 443-8158,

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