Friday, September 04, 2009

August Residential Real Estate Resale Market Figures show strength

The statistics are out for August and it was another very good month for real estate in the Toronto and GTA

GTA REALTORS® Report August Resale Market Figures

TORONTO, September 2, 2009

- In August 2009, Greater Toronto REALTORS® reported 8,035 sales, up 27% per cent from August 2008. The average price for August transactions was $387,921 – up by six per cent compared to the same month last year.

"The increase in demand for existing homes has been widespread across different housing types and price ranges," said TREB President Tom Lebour. "This suggests many categories of home buyers have chosen to make a long-term investment in housing, from first-time buyers to move-up buyers or buyers who are seeking a lifestyle change."

Year-to-date sales, at 58,421 were up two per cent compared to the first eight months of 2008.

Average price, at $385,978 was up by less than one-half of one per cent.

"We have heard more positive economic news lately. The improved housing market has played a key role," explained Jason Mercer, TREB's Senior Manager of Market Analysis. "Home sales have helped other sectors of the economy through home buyers’ spending on things like financial and legal services, moving, renovations and home furnishings."

I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate


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