The average GTA price in December 2008 was $361,415. During the same period last year, the Toronto MLS system recorded an average of $394,931, and in December of 2006 overall GTA prices averaged $336,217.
For December 2008 recorded sales were 2,577 down from 4,646 sales recorded during the same period last year. A 45% drop in sales.
There was a 45% increase in active listings and 29% increase with Days on the Market. We are definitely in a buyers market now. But for Sellers, there is nothing to fear, because with my promotional plans your house will definitely perform above these averages. Even though values have dropped, the average prices have stabilized and still remain above 2006 numbers.
Contact me and I can help you sell your home at the maximum value using the full extraction method.
For 2008 as a whole, prices averaged $379,347, compared to the $376,236 recorded in 2007, and the $351,941 average recorded in 2006. Sales were 74,552, compared to the 93,193 recorded in 2007, and the 83,084 record during 2006.
As the above chart shows, sale numbers have been steadily declining since Mid-2008 and the active listing supply is high. We are in a buyers market and it greatly benefits the first time home buyer. This is the best time to buy low and sell high in the future. Real estate is a long term investment, so start early and invest.
Are you thinking of Buying or Selling a home and would like to discuss your options?
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