The Toronto resale home market continued its winning ways in August, chalking up 6,549 sales, the best-ever figure for that month ever recorded, TREB President Cynthia Lai announced today. “Sales were up 12 per cent from the 5,845 figure of August 2001, which was our previous record, and up 21 per cent from last August. With 22,666 sales in the past three months we are on pace for our best summer market ever and a record-breaking year.”

Prices continued to decline in August, down another one per cent to $285,772 from the $289,880. “Even though sales have surged in the second half of the year, prices have begun to moderate,” noted Ms. Lai. “This is because we have a fairly healthy supply of inventory. The 19,134 active listing figure is up 16 per cent from the 16, 535 number recorded in August of 2002.”

Breaking down the total, 2,401 sales were reported in TREB’s 28 West districts and averaged $265,244; 1,062 sales were reported in the 14 Central districts and averaged $368,473; 1,388 sales were reported in the 23 North districts and averaged $317,050; and 1,698 sales were reported in TREB’s 21 East districts and averaged $235,941.

Click to view Rsidential Market Update – August 2003