August 2007 became the fifth record setting month in a row, with 8,059 sales reported by TREB Members throughout the Greater Toronto Area, TREB President Donald Bentley announced today. "This figure is up 15 per cent over August of last year, and up seven per cent over the 7,498 sales record during the same month in 2005, which was the previous "best ever" performance for the month of august," said the President. "Summer of 2007 has been hands-down the most active holiday season for the resale market in the history of the Toronto real Estate Board."
Whiles sales roared ahead, prices remained affordable in August, with a record average of $361,890. This figure is up seven percent over the $338,192 record of August in 2006. "While the last decade has seen five record breaking years, and a good possibility if a sixth year 2007, year over year prices increases have remained in the single digits. This kind of activity is sustainable for a long time.".
Breaking down the total, 3,057 sales were reported in TREB's 28 West districts and averaged $343,493; 1,444 sales were reported in the 14 Central districts and averaged $453,718; 1,653 sales were reported in the 23 North districts and averaged $403,539; and 1,905 sales were reported in TREB's 21 East districts and average $285,665.
NEIGHBOURHOOD CORNER
Rosedale
There have been 100 total residential sales within Rosedale this year for an average of $1,208,414, up four percent over the first eight months of 2006. Of these 34 were detached homes, which averaged $2,203,457. This is up four percent over the $2,087,600 recorded during the same time last year.
Toronto Area Housing Market Indicators
|
August 2006 |
August 2007 |
|
|
|
|
6,976 |
8,059 |
+15% |
|
|
$338,192 |
$361,890 |
+7% |
|
|
12,534 |
12,109 |
(-3%) |
|
|
24,031 |
19,145 |
(-20%) |
* Single Family Dwellings Only ** Properties All Types including Single Family Dwellings
