April Resales: Hint At Decline

Real Estate Sales Representative with iPro Realty Ltd., Brokerage

Mid-month figures have been released and the numbers point to another consecutive month decline in the Greater Toronto Area -- and this time, the weather can't be blamed.  First, the bad news:

  • Overall, the GTA saw a 5% decline over the same period in April 2007.
  • The 416 (Toronto) saw an 11% decline over the same period a year ago.
  • While, the 905 (surrounding areas) saw a 1% decline over the same period a year ago.

However, on the bright side (i.e., the obligatory "good news") is that:

  • prices are up 7% overall from a year ago
  • 10% in the 416
  • 6% in the 905

The sentiment is that the market is "still healthy" with encouragement from listing inventory that is up only slightly, days on market for solds that's shortening, and a rising average sold to asking price ratio.



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