Highest midmonth total ever

May 16, 2007 -- The resale housing market got off to a roaring start in May, with 5,003 sales reported during the first 15 days of the month, Toronto Real Estate Board President Dorothy Mason announced today. This is an 11 per cent increase over the first half of May 2006 and the highest midmonth sales total in TREB’s history.

“All signs point to a very healthy market for the remainder of the spring,” Mrs. Mason said. “In terms of activity, this year is about six per cent ahead of last year’s pace, and that’s an indication that there’s a lot of confidence in this market. Now is an excellent time to get started in the market or make a move.” The average price in the first half of May was up two per cent to $377,612 from the $369,543 recorded during the first half of May 2006.

Year-to-date prices were nearly five per cent ahead of the same time last year. Meanwhile average timeonmarket
for a listed home fell to 28 days, and the average listtosale price ratio rose to 99 per cent of the asking price.

In Scarborough’s West Agincourt neighbourhood (E05), condominium transactions more than doubled as the area saw a 39 per cent overall increase compared to midMay of 2006.

Strong condominium activity also pushed Mississauga’s City Centre (W15) to a 49 per cent overall increase compared to the same timeframe a year ago.

In the Downtown Toronto / Harbourfront area (C01), 34 per cent more homes changed hands compared to midMay of last year, fueled mostly by highrise condominiums.

In central Vaughan (N08), detached homes and town homes were the most active types as overall transactions increased from midMay of last year by 59 per cent."

Source: Toronto Real Estate Board

April reaches new heights

May 4, 2007 -- Resale housing activity in April powered the Spring market to never before seen heights, with 9,452 sales recorded during the month, TREB President Dorothy Mason announced today.

"With four months passed, 2007 sales to-date are up five per cent over last year," Ms. Mason observed. "We are on track for another near-record year." The Bowmanville area (E17) saw a sales increase of 43 per cent, driven by sales of detached and link houses.

Sales in Cooksville (W15) rose 26 per cent on the basis of strong movement in all housing types, and especially condominium apartments. Bayview Village (C15) and environs recorded a 50 per cent increase in sales over April 2006.

Transactions in most housing types were up over last year. Finally, the South end of Richmond Hill experienced a 30 per cent bump in resale transactions, due to detached and condo apartment sales.

"With April's results now in," Ms. Mason added, "it is clear that the Toronto resale market still holds excellent opportunities for both first time and move-up buyers."

Best Day Ever, Best Month Ever!

May 4, 2007 -- With 581 sales reported on April 30, the highest single day total ever documented, April's total transactions reached an astounding 9,452, the best single-month total ever recorded, TREB President Dorothy Mason announced today. "The Greater Toronto Area's resale housing market has showed sustained strength and these phenomenal numbers bode well for the remainder of this year's spring market."

Average prices climbed three per cent in April, to $379,025 from last April's $366,683. "Despite the torrid sales pace," Ms. Mason said.

"Overall price increases are holding at marginally above the inflation rate, which means that potential first-time buyers are not being pushed out of the market."