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May the most active month ever

June 5, 2007 -- In May the Toronto Area resale housing market experienced its most activemonth ever as 11,146 homes changed hands, Toronto Real Estate Board President Dorothy Mason announced today. The total for the month was 18 per cent higher than May of 2006.

"The level of activity has been very strong through the spring, but it jumped to another level in May," Mrs. Mason said. "Overall, our yeartodate figures show that sales are about eight per cent ahead of last year's pace."

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In West Agincourt "E05", condominium activity more than doubled as overall sales increased by 39 per cent compared to last May.

Condominiums are by far the most common housing type in Toronto's downtown / Harbourfront neighbourhood "C01", where transactions jumped 37 per cent overall compared to May of 2006.

In the Cooksville / Port Credit area of Mississauga "W12", 41 per cent more transactions took place compared to a year ago.

North of Toronto in Vaughan Centre "N08", overall resale activity increased by 40 per cent compared to the same timeframe in 2006.

With the average price just five per cent higher than a year ago, at $382,787, Mrs. Mason noted that the market is a strong investment, yet still quite accessible.

"We have an excellent combination of healthy, controlled price increases and a very high level of activity,"Mrs. Mason said.

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May 2007 Report
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Real Estate Market Report May 2007
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