Friday, April 06, 2007

Strong Start to Spring Real Estate Market in the GTA

Strong start to GTA real estate spring market

April 4, 2007 -- Strong resale housing activity in March got the spring market off to a healthy start, Toronto Real Estate Board President Dorothy Mason announced today. A total of 8,518 transactions took place in the month, nearly on par with the 8,707 sales reported last March.

“The market is in great shape, and we’re seeing very strong results on a consistent basis,” Mrs. Mason said. “So far 2007 is slightly ahead of last year’s sales pace, and we’re right on track for another solid year.”

In Scarborough’s West Hill neighbourhood (E10), strong sales of detached homes led to an overall sales increase of 27 per cent compared to March 2006.

Etobicoke’s Mimico / New Toronto neighbourhood (W06) saw transactions increase by 45 per cent compared to last March, fueled by strong detached home and condo apartment activity.

A jump in condominium activity in North York Centre (C14) helped overall sales to a 14 per cent increase compared to March of a year ago.

Overall sales in Thornhill (N02) increased by 16 per cent compared to last March, led by detached home sales.

“The GTA continues to have strong employment numbers and a healthy economy,” Mrs. Mason added.

“Housing activity is solid and prices are steadily on the rise, so it remains an excellent time to be in the market.”

Read more about the real estate market and see prices

Toronto Real Estate Board (TREB) Average Prices and Graph

For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1

BUS. 905-828-3434
FAX. 905-828-2829

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