August GTA Housing

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By Elli Davis, August 23, 2010

Toronto Condo Sunset by Jim Crocker

August housing news from GTA is here! Greater Toronto Realtors reported this week that 2,732 sales through the Multiple Listing Service were recorded in the area during the first fourteen days of this month. When compared to the same period a year ago when 3,832 sales were reported, at 29 percent, there has been a substantial decrease in sales.

New listings fell from last August too, by 8 percent to 4,770. On the other hand, the average price for a home sale in GTA increased by the same percentage. Its August 2010 level was $412,934, compared to $383,796 recorded during first two weeks of August 2009.

The numbers in our area conform to the overall housing situation in Canada, I would say. As I have mentioned a few times already, we could not have expected the figures to be much better and this trend is likely to continue, at least until the end of the year.