June Market More Balanced
July 4, 2008 -- TREB Members reported 8,600 sales in June, TREB
President Maureen O’Neill announced today. “Sales were down 18 per
cent from the 2007 total of 10,451, which was the best performance
ever for that month,” noted the president. “Nevertheless, the 8,600
figure is the fifth best June on record, and indicative of an
active, healthy market.”
Sales within the City of Toronto totaled 3,481, down 18 per cent
from the 4,238 recorded in June 2007. Sales within the 905 suburbs,
at 5,119, were also down 18 per cent from the 6,213 recorded during
the same period last year.
On the pricing front, June’s GTA average came in at $395,866. This
was up four per cent over the $381,963 recorded during June of 2007.
Prices increases were roughly equivalent in both the City of Toronto
and the surrounding suburbs. Within Toronto, prices averaged
$433,082, up three per cent over the $421,139 recorded in June of
2007. Within the 905 suburbs, the average price came in at $370,559,
up four per cent over the $355,240 recorded during the same period
last year.
“With summer coming, and a 22 per cent increase in inventory to
nearly 27,000 this June over last, the market is slowly shifting
towards balance after several years of favouring sellers,” said the
President.
Breaking down the total, 3,357 sales were reported in TREB’s 28 West
districts and averaged $374,043; 1,483 sales were reported in the 14
Central districts and averaged $518,471; 1,697 sales were reported
in the 23 North districts and averaged $430,498; and 2,063 sales
were reported in TREB’s 21 East districts and averaged $314,755.
Amit is a Toronto and Mississauga Real Estate Board REALTOR®
serving real estate markets
in Downtown Mississauga and West Mississauga. Amit will be happy to answer all your questions. Monthly Real Estate statistics are provided by Toronto
Real Estate Board. For an average selling price of your home
/condominium fill out Mississauga home/condo
evaluation.
More Toronto Mississauga Real Estate News, Trends,
Information, Comments, Reviews at Condopundit.com
|
