TORONTO REAL ESTATE MARKET - JUNE REMAINS ON A RECORD PACE

Sales of existing homes in the Toronto area fell 5% in June compared the same month a year ago, but remain on a record pace this year.

A total of 8,730 properties changed hands last month, down from 9,153 in June 2005.

However, it was fourth straight month that sales topped the 8,000 mark, bring the six-month total to 45,797, a 2% improvement over the first half of 2005.

"The record first quarter has been followed by solid results in the late spring and early summer," said incoming Toronto Real Estate Board president Dorothy Mason.

The average price of a home hit $358,035 in June, up 4% from year-ago levels.

Active areas included Wilson Heights, which saw 42% more transactions than June 2005, and the Birchmount Park-Cliffside area of Scarborough, up 38%.

For more info on Toronto market go to http://www.torontrogreathomes.com

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TORONTO REAL ESTATE MARKET - JUNE REMAINS ON A RECORD PACE

Reviewed by citra
Published : 2006-07-07T14:48:00-07:00
Rating : 4.5