Summer market remains steady through August
The 3,290 sales to mid-month surpassed the 3,196 sales recorded to mid-August
2005, while prices increased four per cent over the same timeframe to $333,396
The market is showing stability through the latter half of the summer,
Mrs. Mason said. At a time when we traditionally see a moderation of activity,
sales to mid-August are up marginally over July's mid-month figure of 3,285.
North of Toronto, Central Vaughan (N08) showed an overall sales increase of
41 per cent compared to mid-August 2005.
In Mississauga, 37 per cent more overall transactions took place in the eastern
portion of Streetsville (W19) compared to last year's mid-August figures, fueled
by increased sales of townhomes.
In Toronto's east end, Scarborough's E09 district showed a 61 per cent increase
in overall sales compared to mid-August figures a year ago, as condominium sales
more than doubled.
Condominium activity nearly doubled on the east side of North York Centre (C14),
as overall transactions in the area went up 40 per cent compared to mid-August
of last year.
Condominium apartment sales as a share of total resale volumes have edged
higher over the past year. This is largely due to rising detached home prices
and continued condominium apartment completions, particularly in Central Toronto,
Mr. Tsiakopoulos said. Improved job prospects in core Toronto areas and
a stabilization in Toronto's rental vacancy rate are also factors contributing
to a strong pace of condo sales to both end users and investors alike.
TREB's President added that the stability of the GTA market is good news for
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