October 18, 2010
Realtors in the GTA reported 3,012 sales through the MLS during the first half of October. That’s down 17% from this time last year. But don’t despair– it was to be expected.
According to TREB:
“The GTA resale market is balancing out from the record level of sales experience in the second half of 2009 and first few months of 2010. This is why sales figures have been lower than 2009 levels in recent months.”
So it’s no big deal. Prices are still up from a year ago– sales are just cooling down. The average price of homes in October 2009 was $414,479. In the first half of this October, prices averaged at $444,644 which represents a price differential of seven per cent.