TORONTO, April 4, 2007 - Strong resale housing activity in March got the spring market off to a healthy start, Toronto Real Estate Board President Dorothy Mason announced today. A total of 8,518 transactions took place in the month, nearly on par with the 8,707 sales reported last March.
"The market is in great shape, and we're seeing very strong results on a consistent basis," Mrs. Mason said. "So far 2007 is slightly ahead of last year's sales pace, and we're right on track for another solid year."
In Scarborough's West Hill neighbourhood (E10), strong sales of detached homes led to an overall sales increase of 27 per cent compared to March 2006.
Etobicoke's Mimico / New Toronto neighbourhood (W06) saw transactions increase by 45 per cent compared to last March, fueled by strong detached home and condo apartment activity.
A jump in condominium activity in North York Centre (C14) helped overall sales to a 14 per cent increase compared to March of a year ago.
Overall sales in Thornhill (N02) increased by 16 per cent compared to last March, led by detached home sales.
"The GTA continues to have strong employment numbers and a healthy economy," Mrs. Mason added. "Housing activity is solid and prices are steadily on the rise, so it remains an excellent time to be in the market."
Toronto REALTORS® are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service. Its 20,228 listings resulted in March's 8,518 sales. Serving more than 25,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada's largest real estate board. Greater Toronto Area open house listings are now available on TorontoRealEstateBoard.com .
