Toronto Condo Sales hit a New Record

Reports released yesterday are showing that even when the world markets have plummeted, the sale of Toronto condos broke the 2007 record for the same month by 35%. these reports were released by the Toronto Real Estate Board (TREB).

The increase in condo sales also coincides with an increase in the resale housing market in Toronto of 23% in July 2011 over July 2010.

The average selling price in Toronto in July was $459,122 compared to $418,675, this is a year on year increase of almost 10%.