June 2009 turned out to be a very hot month for real estate in Toronto, as published in the Toronto Real Estate Board Statistics today.
10,955 sales in the month – the most in a single month since June 2007, and the monthly average price hit a new all time high of $403,972. If you were waiting for the bottom of the market, as your time to buy, well – that was last winter. Now we are in a rising market. It is a seller’s market once again, with multiple offers and bidding wars becoming standard practice.