August typically is a slower month than June and July. The modest month-to-month declines in volume and average prices is as expected. Real Estate should continue strong through the rest of the year. Prices may rise a bit further as the economy continues to strengthen. Toronto real estate prices are 6.3% higher than August of the year before and just a bit below the all time highs of early 2008. Toronto real estate has completely recovered from any economic downturn and continues to be a leading indicator of better times ahead.
Contact me for all your real estate needs...
Ralph Evans, Sales Representative
RE/MAX Professionals Inc., Brokerage
Etobicoke Real Estate
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