Industry News

Toronto real estate sales jump

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Existing-home sales in Toronto, Canada, during August climbed 11 percent from a year ago, making it the best August ever, the Toronto Real Estate Board announced today. Realtors reported 7,498 sales last month, up from 6,743 in August 2004. "We have seen strong sales figures all summer and this record-breaking performance is further evidence of the market's consistency throughout the season," said TREB President John Meehan. "These figures represent the third-straight record August dating back to 2003. Consumers are demonstrating increasing confidence in the summer season as a great time to buy or sell a home and the market is reflecting that." The increase in the overall August market generated pockets of particularly high activity in neighborhoods within the city of Toronto as well as its surrounding regions. In the East, townhome sales helped Whitby record 38 percent more transactions during the month, compared to August 2004. The Islington/Kingsway area of Etobicoke saw a sa...