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Oakville Mississauga and GTA Real Estate Market Watch: July 2009 Reports Record Sales

August 11, 2009

August 6, 2009 – In July 2009, Greater Toronto area REALTORS® reported a record 9,967 sales, up 28 per cent from July 2008. The average price for July transactions was $395,414 – up by 6% compared to the same month last year.
“Households confident in their positioning within the current economic environment have taken advantage of housing affordability in the GTA,” said TREB President Tom Lebour. “The real estate sector has been one of the sectors making a positive contribution to economic growth in the GTA, not to mention Ontario and Canada more broadly.”
Year-to-date sales, at 50,632 are down 1.2 % compared to the first seven months of 2008.
Average home prices, at $385,808 is down by less than one-half of one per cent.
“The steep drop-off in sales experienced at the beginning of the year has all but dissipated,”
explained Jason Mercer, TREB’s Senior Manager of Market Analysis. “With five months left to
go in the year, it is probable that total existing home sales in 2009 will be at or above last year’s
level.”
Greater Toronto REALTORS® are passionate about their work. We adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 28,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are now available on http://www.TorontoRealEstateBoard.com.
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