Toronto Real Estate Board: South Richmond Hill Home Sales were up 5%

Submitted by Jasmina on Thu, 2008-06-19 01:44.

The Greater Toronto Area (GTA) communities that experienced strong activity in the first half of June are:

  • mid-June Toronto Resale Housing Market performanceRichmond Hill South (N03) experienced strong detached home sales, which resulted in a five per cent increase from mid-June 2007.
  • In Caledon (W28) detached home transactions led to a nine per cent increase in sales over the same period a year ago.
  • Condominium apartment transactions also drove West Agincourt (E05) to a 24 per cent increase in sales compared to the same timeframe a year ago.
  • In Riverdale (E01) transactions increased 28 per cent compared to the first half of June 2007 driven by strong condominium apartment sales.

Resale home prices continued their upward trend in the first half of this month

The Greater Toronto Area (GTA) average price is currently $398,542, up four per cent over the $384,576 average from the same timeframe a year ago and up 11 per cent from the $358,648 recorded at mid-June 2006.

"With 4,374 transactions in the first two weeks of this month, sales in the GTA declined 14 per cent compared to the same timeframe a year ago, which was particularly a strong year, when 5,074 properties were sold," Toronto Real Estate Board President Maureen O'Neill announced yesterday. "However, compared to the first half of June 2006 when 4,074 properties changed hands, this month's activity is up seven per cent.

Greater Toronto Area house prices compared to mid-June 2007 and 2006

Area code  2008        2007     %Change    2006     %Change
-----------------------------------------------------------
416 $439,469 $424,888 +3% $386,960 +14%
905 $371,686 $357,359 +4% $338,578 +10%

Number of resale homes sold in GTA compared to mid-June 2007 and 2006

Area code  2008     2007  %Change    2006  %Change
--------------------------------------------------
416 1,733 2,045 -15% 1,690 +2%
905 2,641 3,029 -13% 2,384 +11%

Toronto / GTA Resale Housing Market continued at a moderate but healthy pace throughout the first half of June. "With employment and interest rates holding steady and a 17 per cent increase in available listings compared to a year ago, it is an ideal time to take advantage of all that the market has to offer," said Ms. O'Neill.