Toronto Home Sales UP 12% In 2007

Although the final numbers aren’t in just yet, it appears that there have been approximately 95,000 sales of houses and condominiums in the Toronto Real Estate Board in 2007… up over 12% from 2006.

This is the first time ever that sales have exceeded 90,000 in any calendar year!

As evidence of the strong seller’s market that we’re still having, the ratio of sales-to-listings for the year averaged 38.8%, the highest since 2002.  Anything higher than 28% is considered a seller’s market.

Sales for the month of December individually were the second highest this decade… only surpassed by those in December 2001.

So what’s to be expected for 2008?  Come back to these pages in the next few days and read the predictions from the experts!

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