Industry News

Toronto real estate sales jump

Downtown sees huge gains at mid-month

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

In the first half of January, the Toronto-area resale housing market posted a 15 percent increase in sales compared to the first half of January 2005, the Toronto Real Estate Board reported. Realtors reported 1,508 sales during the first half of this month, up from 1,310 sales during the same period a year ago. "As usual, activity in the post-holiday season market is more moderate than during the peak spring months, but so far it is running at a normal pace for this time of year," TREB President John Meehan said. "Sales typically accelerate during the second half of the month and into February as the spring market begins to warm up." Strong sales of condominiums played a significant role in one of the hottest markets in the Greater Toronto Area. In Toronto's Downtown/Harborfront area, sales of condominiums made up 89 percent of the transactions, as overall sales in the first half of January outpaced last year's total by 69 percent. The average price of a home in the Greater Toronto A...