GTA Mid-May Sales
By Elli Davis, May 20, 2011
With the first half of the month over, I suspect people following the Greater Toronto Area housing situation are already curious about sales. Here is the latest news! The MLS systems yielded 4,774 sales so far this month, the Greater Toronto REALTORS reported.
Pink piggy bank by kenteegardin
Unsurprisingly, in comparison with the very favourable first fourteen days of May 2010 and its 4,887 homes sold, this a 2 per cent decline — which is not bad. In the city of Toronto, the number of sales decreased over the year from 1,984 to 1,867. Prices, on the other hand, increased once again. In the GTA, the average price for a transaction during the first half of May was $486,223 — an 8 per cent rise from the same period last year. In Toronto, the average price rose from $500,375 to $543,787.
I think the 2 per cent decline from last May is a really minor one and, considering how good the first half of last year was, it is insignificant.