Interpret however it suits you, here are the GTA facts for the 1st half of the month of June reported in the media recently. Month of May had also surpassed 2008 record sales:


TORONTO, June 17, 2009 - Greater Toronto REALTORS® reported 5,185 transactions in the first half of June – an increase of 19 per cent compared to the same period last year.

\"Households in the GTA have become more confident in purchasing a home over the past three months,\" said TREB President Maureen O’Neill.
\"Affordability, due in part to very low borrowing costs, has played a key role.\"
The average price for MLS® sales was $407,716, up by two per cent compared to last year.

\"Heightened interest in ownership housing this spring has solidified resale home prices,\" according to Jason Mercer, TREB's Senior Manager of Market Analysis. “The number of home buyers has been high relative to the number of listings, pushing the average price above last year's level.”
Summary Of Mid-June Sales And Average Price
June 2009 2008
(Sales 2009) Average Price [Sales 2008] Average Price
City of Toronto (\"416\" (2,023) $449,946 [1,733] $439,469
Rest of GTA (\"905\" (3,162) $380,698 [2,641] $371,686
GTA (5,185) $407,716 [4,374] $398,542
Source: Toronto Real Estate Board

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Rajeev Narula, Broker, REALTOR®
ACE TEAM REALTY INC., Brokerage
10 Kingsbridge Garden Circle, Suite 704
(Opp Square One - HWY10/403)
Mississauga, ON L5R 3K6
Bus: 1-888-355-3155 Ext. 300
Fax: 1-888-443-3155
Email:
Web: http://www.RAJEEV.ca" rel="nofollow">LINK

Lets bear in mind the summer factor also which increases sales in all areas .

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Fido.

The stats are a comparison of Summer 2008 versus Summer 2009.

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Rajeev Narula, Broker, REALTOR®
ACE TEAM REALTY INC., Brokerage
10 Kingsbridge Garden Circle, Suite 704
(Opp Square One - HWY10/403)
Mississauga, ON L5R 3K6
Bus: 1-888-355-3155 Ext. 300
Fax: 1-888-443-3155
Email:
Web: http://www.RAJEEV.ca" rel="nofollow">LINK

We too have been on the look out for a good two bedroom townhouse in Mississauga for quite some time now.. Unfortunately the ones listed are either not to our liking or pretty steeply priced. To make things worse, barely any new listings seem to be coming up. Lets hope this buying frenzy subsides after summer.

Indiarocks,

If you stay patient, I expect the price to adjust downwards slightly in couple of months when the holders of commitment letters for lower rate mortgages are either done with their purchase or are out of the market for not finding anything they wanted. You may know that most banks and lending institutions have increased their fixed rates in the last couple of weeks. The scene may however change if these rates again drop (which at this point of time doesn't seem to be coming ). New listings in Mississauga and Brampton have certainly dropped.


(By the way, two bedroom townhomes are a rare find. Look for 3 bedroom ones. You will be surprised that they cost almost same...besides, an extra room never hurts...)

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Rajeev Narula, Broker, REALTOR®
ACE TEAM REALTY INC., Brokerage
10 Kingsbridge Garden Circle, Suite 704
(Opp Square One - HWY10/403)
Mississauga, ON L5R 3K6
Bus: 1-888-355-3155 Ext. 300
Fax: 1-888-443-3155
Email:
Web: http://www.RAJEEV.ca" rel="nofollow">LINK

Thanks Rajeev. That was very insightful.