MAY SALES REMAIN HIGH
According to Toronto Real Estate Board (TREB), Greater Toronto REALTORS reported 9,470 sales through the Multiple Listing Service (MLS) in May 2010. In comparison to previous years, this was the third highest May sales result on record.
Because so many buyers rushed to purchase homes before all the changes came into an effect (19th of April 2010 Mortgage approvals changes and 1st of July 2010 - HST) May’s transaction numbers are slightly lower than the average numbers in May.
New listings were up 38 per cent annually to 18,940.
The average price for May transaction was $446,596 – up 13 per cent compared to the average recorded in May 2009 ($395,609).
There is more choice for buyers now, since the gap between listings and sales has widened.
According to Jason Mercer, TREB’s Senior Manager of Market Analysis, the annual rate of price growth will slow in the second half of 2010, from the current double digit pace into the single digits.
As for the West District here are the numbers:
|
Sales
|
Average Price
|
DOM
|
Avg % List
|
|
6,961
|
$421,895
|
21
|
99
|
West District Year-To-Date here are the numbers:
|
Sales
|
Average Price
|
DOM
|
Avg % List
|
|
16,334
|
$404,413
|
22
|
99
|
If you would like to see what is currectly for sale in the West District click here.
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