Wednesday, May 6, 2009

MLS Sales Toronto The Sky didn't fall!

Greater Toronto REALTORS® report 8,107 Resales in April

TORONTO, May 6, 2009 - In April 2009, Greater Toronto REALTORS® reported 8,107 sales – down seven per cent from April 2008. While April sales remained lower than last year, the  resale housing market gained momentum on a month-over-month basis. The seasonally adjusted annual rate of sales in April, at 80,900, was up 26 per cent from March and up twothirds compared to January’s ten-year low.1

“Conditions in the resale housing market have improved markedly this spring,” according to TREB President Maureen O’Neill. “Home purchases have increased as households have taken
advantage of low interest rates and slightly lower home prices.”

The average price for April transactions was $385,641 – down three per cent from last year.

“The rate of average price decline continued to diminish last month. This is due in large part to a
tightening in the resale market,” stated Jason Mercer, TREB’s Senior Manager of Market 
Analysis. “The level of sales relative to new listings increased in April.”

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April Sales were strong at 3,078 units and 9,157 listings available. This is reflected in the fact that 5087 units were listed in that same period. Days outstanding to sell west Toronto 37 days.

Should you be considering the sale of your home I would be pleased to provide you with a Market Evaluation.

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