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Highest Mid-Month Total Ever

The resale housing market got off to a roaring start in May, with 5,003 sales reported during the first 15 days of the month, Toronto Real Estate Board President Dorothy Mason announced today. This is an 11 per cent increase over the first half of May 2006 and the highest midmonth sales total in TREB’s history.

“All signs point to a very healthy market for the remainder of the spring,” Mrs. Mason said. “In terms of activity, this year is about six per cent ahead of last year’s pace, and that’s an indication that there’s a lot of confidence in this market. Now is an excellent time to get started in the market or make a move.” The average price in the first half of May was up two per cent to $377,612 from the $369,543 recorded during the first half of May 2006.

Yeartodate prices were nearly five per cent ahead of the same time last year. Meanwhile average timeonmarket
for a listed home fell to 28 days, and the average listtosale price ratio rose to 99 per cent of the asking price.

In Scarborough’s West Agincourt neighbourhood (E05), condominium transactions more than doubled as the area saw a 39 per cent overall increase compared to midMay of 2006.

Strong condominium activity also pushed Mississauga’s City Centre (W15) to a 49 per cent overall increase compared to the same timeframe a year ago.

In the Downtown Toronto / Harbourfront area (C01), 34 per cent more homes changed hands compared to midMay of last year, fueled mostly by highrise condominiums.

In central Vaughan (N08), detached homes and town homes were the most active types as overall transactions increased from midMay of last year by 59 per cent."

Posted on Thursday, May 17, 2007 at 01:54PM by Registered CommenterElaine | Comments1 Comment

Reader Comments (1)

Interesting to see how different markets are coming along. “Year-to-date prices were nearly five per cent ahead of the same time last year. Meanwhile average timeonmarket
for a listed home fell to 28 days, and the average listtosale price ratio rose to 99 per cent of the asking price.” This is an amazing stat. We are no way near this out in Colorado. Our market has taken a turn, average days on market is close to 180 and list to sale price is in the 80’s. Great read, very interesting.

Thanks
Logan
http://www.coloradohomehelper.com
May 18, 2007 | Unregistered CommenterLogan

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