Waterfront Condos
Statistics are now available for The Toronto Real Estate Board”s May results.
Toronto home sales increased….in fact it was the first annual increase in sales since December 2007. The Real Estate Board reported sales of 9.589 including Toronto and the GTA, up almost 2 per cent from the same time last year.
Average resale home prices for May 2009 in the GTA was $395,609, down less than 1 per cent from May 2008.
The average Toronto resale price including Homes and Condos was $432,478 slightly down .04 per cent compared to the same month last year.
Resale Condo prices in the Toronto Central Districts were mixed with just a few reporting positive gains and the bigger districts negative gains in year over year price.
Available listings on the Toronto Market were down resulting in some pressure on sales with bidding wars again appearing in home and Condo listings.
Toronto Condos in the Central District sales to active listings percentages were quite strong ranging from 63.9 per cent to 76.1 per cent, clearly in a SELLERS MARKET. The only surprise with the May stats was the lack of price increases, perhaps the fact that brand new Condos were not getting the higher prices of the past when speculators, or investors decided to sell back into the resale Market, for whatever reason.
Here is the full Toronto Real Estate Market Watch for May 2009.
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