Home sales in the first week of August posted a record high opening for the month. A total of 468 homes sold which was a 38.46% year-over-year increase.
Granted, the year-over-year comparison is with a base year just one month removed from the previous mortgage rule change. Still, it was a 5.4% increase from August 1-7, 2009 which until now was the strongest start to August.
In the luxury segment, 16 homes sold for a million and over including a $4,750,000 home in Mt. Royal.
That represents a 300% increase from the 4 luxury sales in the first week of last August.
With the sale of the Mt. Royal home, there have now been 8 homes that sold for over $4M year-to-date.
In 2012 there were only two $4M+ sales for the entire year. You would need to combine the year-end totals of 2010, 2011 & 2012 to match the eight $4M+ sales recorded in the first 7 months of this year.