Are Luxury home sales hitting a record?

May was the strongest month ever for sales of luxury homes in the Greater Toronto Area.

In that month, 273 homes were SOLD for more than $1 million each, compared to 258 sold in the same month one year earlier. This is a difference of 6%!

There is a stortage of inventory and there is pent-up demand, so that is the current market conditions.

There is confidence returning to the marketplace.

It has been predicted that total sales in 2009 will meet or exceed those of 2008!

"TREB report"

Joann Visaretis

Joann Visaretis

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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