Greater Toronto Realtors reported 9,589 sales during the month of May. Up almost two percent from May 2008 - the first annual increase since December 2007.
The Resale housing market in the GTA has remained resilient in the face of challenging times globally. Many home buyers have taken advantage of extremely low Mortgage rates.
The Average Price for May Transactions was $395,609 - down less than one percent compared to the same month last year.
The average resale home price has moved in line with last year's level because of tighter market conditions experienced this Spring. Home Sales have increased strongly relative to new listings, bolstering home prices.
The Average Price in the area of W01 was $426,141, in W02 - $466,642, W03 - $288,564, W04 - $305,786 and in W05 - $281,441.
