GTA mid-October Housing

By Elli Davis, October 23, 2010

Photo by Jimmy Reade

The first half of October is over and as usual, Greater Toronto Area housing reports from the first two weeks of the month have been released. During this period, Greater Toronto Realtors reported exactly 3,012 sales through the Multiple Listing Service. If compared to 3,631 sales recorded during the same time in 2009, it is approximately a 17 percent fall.

If comparing years 2009 and 2010 so far, home sales in GTA have been 3 percent higher during the first nine and half months of the year, at 71,988. The average price for a transaction rose as well – it was $444,644 during the first 14 days of this month, 7 percent higher than the $414,479 seen during the first two weeks of October 2009.

What can I say? We have been quite expectedly, hearing results of similar patterns from GTA for weeks and we will be unlikely to see any dramatic rises anytime soon. More stabilized results are, however, very much anticipated.

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