Toronto Real Estate Market Performance: May 2008 Mid-Month Statistics
May 21st, 2008 Categories: Mid-Month Statistics, News Wire
Welcome to my mid-month activity report for the Toronto 2008 real estate market. Brief and to the point, it’s my virtual flip chart of the numbers Toronto buyers and sellers need to make good real estate decisions. If interested, a more detailed statistical breakdown can be found on the Toronto Real Estate Board (TREB) website.
Let’s get started!
Toronto Real Estate Statistics
The Greater Toronto Area (GTA) reported 4,422 transactions in the first two weeks of May, down 12% from the same period last year.
In the City of Toronto (defined as the 416 area code), sales are down 15% compared to a year ago, with 1,734 transactions written.
Also in the City of Toronto, the average price for a detached house is now $437,205, up 6% over mid-May 2007. The affordability orange continues to be squeezed!
Inventory is up 11% compared to a year ago, affording greater selection for buyers.
The Average Days on Market (DOM) has jumped to 35 compared to last year’s 28.
Toronto Real Estate Market
Activity Summary
Increase in inventory. Average DOM has increased. Moderate sales. Price continues to appreciate year-over-year.
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