The Real estate market in Toronto has kept an agile pace from the beginning of this summer, as proven by the latest short report of Toronto Real Estate Board.
While the year 2008 began well, but ended very gloomy, 2009 is quite the opposite. After a very difficult winter, spring and especially summer results give reason for optimism. Year-to-date sales have been better than last year's (54,303 versus 54,138 units sold), average price is 0.5% lower ($385,603).
And specifically year-to-year results are much better. Sales for the first two weeks of August 2009 were up by 27%, with 3,832 sales. Similarly, average price was 3% higher, climbing up to $383,796.
As explained by TREB President Tom Lebour: "The results for the first half of August indicate that many households in the GTA remain confident in their ability to purchase and pay for a home over the long term."