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Oakville, Mississauga & GTA Real Estate Market Update: August 2009

September 8, 2009

GTA REALTORS® Report August Resale Real Estate Market Figures

In August 2009, Oakville, Mississauga & Greater Toronto area REALTORS® reported 8,035 Real Estate transactions, up 27% per cent from August 2008. The average price for August’s Real Estate transactions was $387,921 – up 6% compared to the same period last year.

“The increase in demand for existing homes has been widespread across different housing types and price ranges,” said TREB President Tom Lebour. “This suggests many categories of home buyers have chosen to make a long-term investment in housing, from first-time buyers to move-up buyers or buyers who are seeking a lifestyle change.”

Year-to-date sales, at 58,421 were up 2% compared to the first eight months of 2008.

Average prices of homes and condos over Oakville, Mississauga and the rest of the GTA, at $385,978 are up by less than one-half of one per cent.

“We have heard more positive economic news lately. The improved housing market has played a key role,” explained Jason Mercer, TREB’s Senior Manager of Market Analysis. “Home sales have helped other sectors of the economy through home buyers’ spending on things like financial and legal services, moving, renovations and home furnishings.”

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Greater Toronto REALTORS® are passionate about their work. They 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.

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