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 Area in the first half of January was $311,065, an increase of 2 percent over the $303,236 recorded during the first half of January 2005.

The Toronto Real Estate Board serves more than 22,000 Realtors throughout the Greater Toronto area.

***

What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
We're giving away 3 free ICLV tickets at Connect Now tomorrow. Register and attend live for your chance to win!REGISTER×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription