The Toronto housing market hit a record in early August.

The Toronto Real Estate Board reported yesterday 3,838 properties were sold at an average price of $355,829 in the first half of August. The number of resales was up 17 per cent from the same time in 2006. "Secondly, the luxury market is not a trendsetting segment that is large enough to impact other segments of the housing market." The real estate board said sales rose significantly in early August in west Agincourt, Rexdale, the downtown core and south Richmond Hill.