August Sets New Toronto Real Estate Sales Record
August 2007 became the fifth record-setting month in a row, with 8,059 sales reported by Toronto Real Estate Board Members throughout the Greater Toronto Area, Toronto Real Estate Board 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 recorded 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 real estate market in the history of the Toronto Real Estate Board.”
While sales roared ahead, prices remained affordable in August, with a recorded average of $361,890. This figure is up seven per cent over the $338,192 recorded during August of 2006. “While the last decade has seen five record breaking years, and a good possibility of a sixth in 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 the Toronto Real Estate Board’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 the 21 East districts and averaged $285,665.
Neighbourhood corner - Rosedale
There have been 100 total residential sales within Rosedale (part of C09) this year for an average of $1,208,414, up four per cent over the first eight months of 2006. Of these 34 were detached homes, which averaged $2,203,457. This is up four per cent over the $2,087,600 recorded during the same time last year.
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