Tuesday, July 07, 2009

Toronto and Mississauga Real Estate Prices and sales volumes are up!

This is the report from TREB (Toronto Real Estate Board) detailing the results from June in Toronto and Mississauga Real Estate. Prices and volumes are up!

TORONTO, July 6, 2009 - - In June 2009, Greater Toronto REALTORS® reported a record 10,955 sales, up 27 per cent from June 2008. The seasonally adjusted annual rate of sales in June was 100,700.(1)

"The record result in June is testament to the fundamentally sound housing market in the GTA," said the Toronto Real Estate Board’s newly appointed President Tom Lebour. "An increasing number of households have been confident in purchasing a home in the region’s affordable and diverse resale housing market."

The average price for June transactions was $403,972 – up by two per cent compared to the same month last year. "The re-emergence of seller’s market conditions has exerted upward pressure on home prices," explained Jason Mercer, TREB's Senior Manager of Market Analysis. "Look for sales to remain high relative to listings in the second half of the year. This will keep home prices growing."

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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