Cool Summer - Hot Real Estate Market!

Welcome back from one of the wettest summers on record!

While the heat this summer certainly wasn’t in the weather, the real estate market in Toronto, as well as in the rest of Canada, was certainly boiling and continues to do so!

The first few months of the year were certainly dismal from a real estate perspective so it is absolutely amazing that by the end of August, the year to date sales were up 2% compared to the first eight months of 2008 and the average price was up by 6% compared to the same month last year.

Our government has committed to keeping interest rates low until at least 2011 in order to maintain economic momentum and real estate appears to be one of the first sectors to be rebounding by posting a 27% jump in August 2009 alone.

This combined with recent reports that the Canadian recession has come to an end and Canada is leading other nations on a slow climb to prosperity is definitely good news for all of us.

If you have any questions about the current real estate market, or if you would like to take advantage of current market conditions, please do not hesitate to contact me.