GTA REALTORS® report resale record in July
In July 2009, Greater Toronto
REALTORS® reported a record 9,967
sales, up 28 per cent from July 2008.
The average price for July transactions
was $395,414 – up by six per cent
compared to the same month last year.
“Households confident in their
positioning within the current economic
environment have taken advantage
of housing affordability in the GTA,”
said TREB President Tom Lebour. “The
real estate sector has been one of the
sectors making a positive contribution
to economic growth in the GTA, not
to mention Ontario and Canada more
broadly.”
Year-to-date sales, at 50,632 are
down 1.2 per cent compared to the
first seven months of 2008. Average
price, at $385,808 is down by less
than one-half of one per cent.
“The steep drop-off in sales experienced
at the beginning of the year has all but
dissipated,” explained Jason Mercer,
TREB’s Senior Manager of Market
Analysis. “With five months left to go
in the year, it is probable that total
existing home sales in 2009 will be at
or above last year’s level.”
Posted by Ken Yeung
on August 11, 2009