Optimistic First Half of September

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By Elli Davis, September 26, 2009

Bar Graph by Kevin Zhengli

According to the short report from TREB, Toronto real estate market remains in a good shape also for the first half of September with 3,361 sales (1,280 in the City of Toronto and 2,081 in the rest of GTA). These two weeks overcame the same period of 2008 by 23%. Average price grew by 8 percent to $393,818 ($415,126 in the City, $380,712 in the rest of GTA).

Year-to-date numbers give good reason to believe year 2009 is on the way to overcome last year's overall results significantly. Sales counter stopped on the number 61,676 of items sold, while it was only 59,971 during the same period year ago. Average price is up by 1 percent ($386,302).

Buyers' confidence is backed besides low interest rates also by rising number of positive economic news.