Last Year Home Sales were Good, This Year Prices are Higher.

Last year home sales were good in Toronto, this year 2010 not so good in terms of volume but prices are higher !

According to TREB ( Toronto Real Estate Board) , we are down 21 per cent in a month to month comparison over last year,( existing home sales).

The board reported 6,681 sales last month, down from the 8,476 sales reported in October of 2009.

“The market has balanced out from record levels of sales in the second half of 2009 and first few months of 2010,”

said TREB president Bill Johnston.

For the first 10 months of the year sales are up – but only just – by one per cent from the same time period in 2009.

The average price of a home was $443,729, up 5 per cent compared to the average of $423,559 reported last October.

In the city of Toronto selling prices were higher at $491,157.

In the rest of the GTA prices averaged $410,529.”

Prices higher but volume down, what’s the worry ?

Twitter : EnvoyCapRealty

Envoy Capitol Realty Inc., brokerage Toronto / Ontario
Buy/Sell/Lease/Manage/Develop/Syndication — Investments

Norair Yeretsian, broker of record

Nor Yeretsian [ Facebook ] November 4, 2010

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