The Toronto resale market remained stable from the first half of 2008 but was off 13 percent in sales from the same period in 2007.

However even though sales were down, the average price increased 7 percent from an average $370,037 to $394,563 in the city of Toronto.

The Greater Toronto Area ( GTA) had a total of 3,019 resale transactions with the City of Toronto contributing 1,192 transactions towards this total.