Toronto Resale Market Exceeds 80,000 Sales

TORONTO - December 15, 2004- For the first time in its 84 year history, the Toronto Real Estate Board has seen more than 80,000 transactions through its Multiple Listing Service in a single year.

TREB President Ron Abraham says 2004 will go down in history as a banner year.
"Sales have surpassed the previous all time high of 78,898 set in 2003 and we should end the year with approximately 83,000 transactions. There is no question that real estate is the engine driving today’s ecomony."

With more than 2,200 transactions thus far in December, sales are tracking 10 per cent ahead of December 2003.

"The Bank of Canada’s recent decision to hold steady on interest rates bodes well for the 2005 real estate market. The historically low rates we are enjoying have been a key contibutor to the market’s strength, " said Mr. Abraham.

Mr. Abraham cautions however; that other factors like property taxes and the provincial government’s proposed greenbelt plan could impact affordability in the year ahead.
"We will continue to lobby on behalf of our REALTOR Members to help the Greater Toronto Area’s home buying and selling public realize their future homeownership goals."

"We are confident that we are headed into another strong year for real estate in 2005."
Serving more than 20,500 REALTORS throughout the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board.

 

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* Please note that TREB counts by business or sales days. In a 30 day month, there will usually be about 20 sales days, depending on when the weekends fall, holidays,
and so on.