Toronto real estate board analysed sales in the first two weeks of September.

Activity on the resale housing market remains solid at the beginning of autumn, with 3,361 items sold, adding 23% more compared to the first weeks of September 2008. The City of Toronto counted 1,280 sales (last year 998) and the rest of GTA area added 2,081 sales (up from 1,728). Average price reached $393,818 (September 2008 price was $366,158).

"Tighter market conditions since May, as evidenced by rising sales relative to listings and declining average days on the market, have resulted in stronger average price growth," explained Jason Mercer, TREB's Senior Manager of Market Analysis.

Amazingly enough housing prices are up year over year now! Those who bought in the dark days of last winter are looking very clever.