Industry News

Toronto real estate sales hit record

Neighborhoods north of downtown post largest gains

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Existing-home sales in Toronto, Canada, climbed 5 percent in November from a year ago, setting a record for the month, the Toronto Real Estate Board announced today. A total of 6,646 homes changed hands during the month, eclipsing the previous mark of 6,301 transactions recorded a year ago, the board reported. "Activity in the Toronto area has remained very strong throughout the autumn season," said Toronto Real Estate Board President John Meehan. "The 2005 market has had a very solid second half, and that trend has continued again this month as we appear to be heading for another record year." The 79,995 homes that have changed hands year-to-date is nearly 1 percent higher than the record pace set in 2004. A number of neighborhoods north of Toronto's downtown showed high November sales totals in comparison to totals recorded in November 2004. In Downsview, sales of semi-detached homes increased significantly as the area saw 31 percent more overall transactions, compared to...