Kirby Chan's Blog

A Real Estate Sales Representative Serving Greater Toronto. Search MLS Listings, Find Homes For Sale and Sell Your Home.

Toronto (GTA) Home prices and sales drop in December

2 Comments

2008dec-singlefamilybreakdown

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.

FOR SELLERS

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.

2008-comparison-chart

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.

FOR BUYERS

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?
Contact Me, Just Click Here
or call me directly at (416) 305-8008.

Kirby Chan
Sales Representative
416-305-8008
Web : http://www.KirbyChan.com
Email : Info@KirbyChan.com

___________________
Keller Williams Real Estate Service
17 Church Street, North York, On

Free Real Estate Reports for Buyers and Sellers
Find Out What Your Home is Worth
5 Tips to Higher Sale Prices
Search Homes “For Sale” Using Map Search

It’s Easy To Contact Me, Just Click Here

Advertisements

Author: Kirby Chan

I am a Real Estate Sales Representative servicing the Greater Toronto Area.

2 thoughts on “Toronto (GTA) Home prices and sales drop in December

  1. Great compilation of informative topic. Thanks for the time and effort for making this.

  2. Thank-you for taking the time to comment. I really appreciate it because comments motivate me to keep writing.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s