Following July's trend, TREB reported "Sales and Average Price Up Over 2012". "Many households have accounted for the added costs brought on by stricter mortgage lending guidelines and have reactivated their search for a home," said TREB President Dianne Usher.Our quick takes from August report:-
• no. of resales increased by 21%, compared to last Aug;
• average home sale price for Aug, was $503,094, +5% from Aug 2012;
• sales of detached homes in 416 and 905 areas; and 416 areas condos was at a rate higher or equal to overall sale increase rate;
• active listings dropped slightly.
For further reading:
- detailed report on TREB website;
- Ming Pao Property Goldpage cover story where I was interviewed.
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