Greater Toronto Area real estate. YORK REGION MARKET UPDATE

The real estate market continues to surge forward at a record pace and Richmond Hill is among the areas driving the boom.
According to the latest numbers from the Toronto Real Estate Board, the southern section of Richmond Hill and experienced a 48-per-cent hike in sales in June 2007 compared to the same month last year.
The N03 region of Richmond Hill, which extends into part of Vaughan, is bounded by Hwy. 407 to the south, Major Mackenzie Drive to the north, Dufferin Street to the west and Hwy. 404 to the east.
The average price of the 100 detached homes sold in the area was $603,936.
The area also had 14 semi-detached homes, 84 condominiums, 11 condo townhomes, 33 attached homes and nine link homes trade hands.
Overall, the GTA's resale market experienced a 20-per-cent increase over 2006 numbers.
A record was set in May for the most home sales in a single month with 11,146 properties changing hands. June fell just short with 10,451 sales.
"The current market is exceeding expectations because it has very solid fundamentals to build upon," board president Donald Bentley said.
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