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Toronto Real Estate Board:
GTA May Resale Housing Sales Higher Than Last Year
In May 2009, Greater Toronto Realtors reported 9,589 sales, up almost 2% from May 2008 - the first annual increase since December 2007. "The resale housing market in the GTA has remained resilient in the face of challenging times globally," according to TREB President Maureen O'Neill. "Many home buyers have taken advantage of extremely low mortgage rates."
The average price for April transactions was $395,609 - down less than one per cent compared to the same month last year.
"The average resale home price has moved in line with last year's level because of tighter market conditions experienced this Spring," stated Jason Mercer, TREB's Senior Manager of Market Analysis. "Home sales have increased strongly relative to new listings, bolstering home prices."
See the complete Toronto Real Estate Market Watch Report »
June 2, 2009 in Toronto Real Estate Update | Permalink
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Comments
In these times all good news are welcome
Posted by: Patrick | Nov 29, 2009 8:38:32 PM
I'm in Vancouver, BC and we've seen a strong pick-up in home sales since March 2009 and while the prices aren't where they were in 2007, they are still climbing back up steadily.
Posted by: Real Estate Lead Generation | Nov 8, 2009 8:01:47 PM
Its good to hear house sales are increasing
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Posted by: Hapspootlyrop | Jun 14, 2009 11:09:25 AM
Canadian real estate market lags about 2 years to US market, so this is most likely just a temporary relief. Next year should be fun when the sales tax goes into effect. There is no way global economy is out of the woods yet we probably just moved from depression to a regular recession at this point if the job losses are contained, but the Candian job loss report was not pretty.
Posted by: Investor | Jun 5, 2009 1:36:46 PM
Good news for the banks and people who have two houses, neutral for those that have only one house or those looking to move to an area where houses are lessor value, and bad for those that have no house because they can't afford one.
Posted by: Chris L. | Jun 3, 2009 4:17:28 PM
good to hear this news.
Posted by: Real Estate Leads | Jun 3, 2009 11:23:27 AM
