Report August Resale Market FiguresTORONTO, September 2, 2009 - In August 2009, Greater Toronto REALTORS® reported8,035 sales, up 27% per cent from August 2008. The average price for August transactions was$387,921 - up by six per cent compared to the same month last year."The increase in demand for existing homes has been widespread across different housingtypes and price ranges," said TREB President Tom Lebour. "This suggests many categories ofhome buyers have chosen to make a long-term investment in housing, from first-time buyers tomove-up buyers or buyers who are seeking a lifestyle change."Year-to-date sales, at 58,421 were up two per cent compared to the first eight months of 2008.Average price, at $385,978 was up by less than one-half of one per cent."We have heard more positive economic news lately. The improved housing market has playeda key role," explained Jason Mercer, TREB's Senior Manager of Market Analysis. "Home saleshave helped other sectors of the economy through home buyers' spending on things likefinancial and legal services, moving, renovations and home furnishings."Summary Of August Sales And Average PriceAugust2009 2008Sales Average Price Sales Average PriceCity of Toronto ("416") 3,109 $402,246 2,437 $377,990Rest of GTA ("905") 4,926 $378,880 3,881 $356,658GTA 8,035 $387,921 6,318 $364,886Source: Toronto Real Estate BoardGreater Toronto REALTORS® are passionate about their work. They adhere to a strict Code ofEthics and share a state-of-the-art Multiple Listing Service. Serving over 28,000 Members in theGreater Toronto Area, the Toronto Real Estate Board is Canada's largest real estate board.Greater Toronto Area open house listings are now available onwww.TorontoRealEstateBoard.com.
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