Industry News

Toronto real estate sees near-record month

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Home sales in Toronto, Canada, grew 9 percent in February from a year ago, marking the second-best February ever, the Toronto Real Estate Board reported today. The 6,756 closed home sales last month came within 2 percent of the record set in February 2002, according to TREB, and gained 47 percent from January 2006 when 4,587 homes were sold. "The performance of the Toronto area market early in the year has been very encouraging," said TREB President John Meehan. "We are not yet at the peak of the spring season, but consumers are showing confidence in what is consistently proving to be a solid, healthy real estate market." TREB statistics showed that during February, two of the most expensive areas within the city of Toronto also ranked amongst the most active in terms of sales, compared to February 2005: In the Lawrence Manor/Bedford Park area, sales of detached homes jumped 40 percent compared to February 2005. In the most expensive of TREB's 86 districts, the York Mills/Bridle P...