Industry News

Mother Nature plays key role in Toronto real estate sales

City's western edge sees strongest growth

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In the first half of February, the Toronto-area resale housing market posted a nearly 13 percent increase in sales over the same period a year ago, the Toronto Real Estate Board reported. Realtors documented 3,301 sales during the first half of this month, up from 2,924 posted at mid-month in February 2005. This month's to-date sales were 119 percent higher than just one month ago and were slightly ahead of the record-setting first half of February 2002, when 3,286 transactions were recorded, the board reported. "The market is off to a solid start, though it's obviously still very early in the season," said TREB President John Meehan. "The mild winter has likely contributed to higher activity, but nevertheless a strong performance like this is evidence of the overall health of the market." At mid-month, some of the most active areas compared to mid-February 2005 were found in the west end of the city of Toronto, outside the downtown core: One large area east of the Humber Rive...