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October 6th, 2008 
Lisa Reilly
and
Lisa Hipgrave


Real Estate Sales Representatives


Sutton Partners Realty Inc., Brokerage, 416.461.0907
91 Danforth Ave., Toronto, ON M4K 1N2
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If you have any questions regarding Toronto Real Estate, buying or selling a home or would like more information regarding a listing...just call us at 416.461.0907.

Lisa Reilly and Lisa Hipgrave - the two lisas ________________________________________________________________________________

August Toronto Resale Housing Market Stable

August 19, 2008 -- The Greater Toronto Area (GTA) resale housing market remained stable throughout the first half of this month, Toronto Real Estate Board President (TREB) Maureen O'Neill announced today.

"We're continuing to see consistent levels with respect to sales volumes and prices," said Ms. O'Neill. "While the numbers are more conservative than those in recent years, the stability we're experiencing should help sustain consumer confidence as we move into the fall market."

In the City of Toronto, 1,192 transactions were recorded, down 15 per cent from the 1,411 sales that took place in the first half of August 2007, and off six per cent compared to the 1,269 sales that occurred in the same timeframe two years ago.

"While 2007 was a record year, it is still worthwhile to note that sales in the City of Toronto increased 11 per cent between mid-August 2006 and mid-August 2007, before the Toronto Land Transfer Tax went into effect," said Ms. O'Neill.

Prices meanwhile, increased compared to the same timeframe last year. In the City of Toronto the average price is currently $394,563, up seven per cent from the $370,037 figure recorded a year ago.

In the GTA, there are currently 26,128 active listings, up 28 per cent from the 20,365 properties available for sale a year ago. This has resulted in homes remaining on the market for a slightly longer period of 35 days compared to 32 days last August.

Downtown Toronto however, experienced brisk sales throughout the first half of this month.

Specifically in the C01 district -  transactions increased six per cent compared to mid-August 2007 as a result of strong sales in all housing types.

It's encouraging to see strong activity levels in pockets throughout the City.

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The market in Toronto is shifting towards a balance after several years of favouring sellers.

Click Here to read about the July numbers.

 

Find Your Dream HomeFree Evaluation
If the time has come for You to "Find Your Dream Home", then we would love to help. New Listings appear daily on MLS?. By filling out the form, we can have new Listings emailed to You as soon as they become available.The Equity in your home is like any other investment - it needs to be monitored. Homeowners should have their Equity evaluated once a year.
Now might be the perfect time...
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Home Insulation and Rebates

Home Insulation and Rebates

On Jan. 1, the government, through Natural Resources Canada, began handing out grants to homeowners who, as well as implementing other retrofits, bump up their homes' insulation.

Read on.

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