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Listings to Sales ratios and whats happening in the News
While everyone is concerned about job losses and the declining number of sales a curious thing is happening.Greater Toronto REALTORS® Reported 4,120 Resale Housing Transactions in FebruaryMarch 05, 2009 -- Toronto Real Estate Board Members reported 4,120 sales in February 2009 compared to 6,015 sales recorded in February 2008. The average home price was $361,305 last month compared to $382,048 during the same month last year.That's not a very long banner.BUT the details are what is interesting;In the West section ( that I serve) Last year Feb 08, we had 7,359 listings with 2,358 sales. A ratio of approximately one in four that sold or 32.04%This Feb. 09, we had 7,944 listings with 2544 sales. A ratio of approximately one in four that sold or 32..02%Complete table for last 14 month period of West Toronto Sales.There are two vastly different perspectives I wish to draw your attention to;While everyone is screaming at the top of their lungs that things are bad, it is exactly as it was statistically as was last year at this time.The number of available listings and the number of sales during that month period are almost identical.There has been no dramatic increase in the number of for ... more

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