Toronto Real Estate Market Performance: April 2009 Mid-Month Statistics
April 20th, 2009 Categories: Mid-Month Statistics, News Wire
Welcome to my mid-month activity report for the Toronto 2009 real estate market. Brief and to the point, it’s my virtual flip chart of the numbers Toronto buyers and sellers can use over time 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 MLS
Real Estate Statistics
In the City of Toronto (defined as the 416 area code), sales declined 1.32% compared to a year ago, with 1,494 transactions written.
Also in the City of Toronto, the average price for a home is now $412,987, representing a 9.08% decline from the $454,222 average recorded in mid-April 2008.
The Greater Toronto Area (GTA) reported 3,681 transactions in the first half of April, down 6.93% from the same period last year. The average price was $383,161, representing a 4% decline from the $399,117 recorded last year at this time.
Numbers related to inventory and Days On Market (DOM) will be available after month-end in my April 2009 Market Report.
Toronto Real Estate
Market Activity Summary
Decline in sales slowed dramatically compared to mid-month March 2009 sales. Average price appears to be stabilizing. TREB reports existing sales increased relative to new listings. There may be a bit of a squeeze about to happen on the inventory orange.
It DOES look like a good spring market is forming. Are prices about to bottom out?
Buyers who find their confidence and get back in the market will benefit from greater affordability due to lower house prices and lower interest rates.
Thinking of buying or selling? Numbers are helpful, but a knowledgeable Toronto real estate agent is invaluable. Call Lauren at 416–550–6991, or send me an email.
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