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Sales moderate in April but
prices up
TORONTO - Monday, May 5,
2008
April statistics show that
8,762 houses sold in the
Greater Toronto Area. “The
market continues to
experience a supply and
demand situation and to-date
it remains a sellers
market," said TREB President
Maureen O’Neill. The GTA
market was down 7 per cent
from last April’s record
9,452 transactions. However,
it is showing signs for a
healthy 2008 compared to the
diminished activity during
the first quarter of 2008.
The sales pace however, did
not take place evenly
throughout the GTA.
With 3,467 transactions in
the City of Toronto, sales
were down 10 per cent from a
year ago. The 905 region was
down five per cent from
April 2007 sales, with 5,295
homes changing hands. Prices
continued to appreciate last
month, to a GTA average of
$398,687, up five per cent
from last April's $379,025.
The average price in the
City of Toronto was
$446,781, up six per cent
from April 2007. The 905
region’s average price of
$367,196 increased five per
cent from a year ago. “For
more than a decade, real
estate has served as the
economy’s engine,” said Ms.
O’Neill. “It’s encouraging
to see that consumers are
continuing to put their
faith in real estate as an
excellent long term
investment.”
Breaking down the total,
3,398 sales were reported in
TREB’s 28 West districts and
averaged $372,575; 1,531
sales were reported in the
14 Central districts and
averaged $539,133; 1,768
sales were reported in the
23 North districts and
averaged $429,262; and 2,065
sales were reported in
TREB’s 21 East districts and
averaged $311,350.
See Full Report [in PDF
format*]
HOT NEIGHBOURHOOD
NEIGHBOURHOOD CORNER
Markham
There have been 1,172 sales
in Markham (N01, N10, N11)
during the first four months
of 2008, with an average
price of $453,630. The price
is up eight per cent from
the $417,818 recorded during
the same period in 2007.
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