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June Sales Up

 

18 June 2009
Toronto Real Estate Housing Market Update, May
Prices Rebound, June House Sales up 19%.
 
Spring brought positive news to the Toronto Real Estate market, to many peoples surpise the market rebounded in spite of global economic news.
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Resale House Sales up 2% over May of 2008: 
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The Toronto Real Estate Board reported 8,589 sales for the month of May,  that's up almost 2 percent form May 2008.  Along with the increase in sales came the multiple offer situations again in certain areas, likely due to the tight availability of properties being offered.   Its all about supply and demand and inventory is down.  Nearly 23,000 homes were listed for sale compared to 27,000 available at this time last year.
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Average Home Prices
The average house price in the GTA has been recorded at $395,609, down less than one percent compared to last May. The median house price for May 2009 was $337,000 down from $338,000 in May 2008.
But we now have the stats in for mid June.   The average price for an MLS resale home was $407,716, up by 2% compared to last year.
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Resale housing sales in the GTA are up 19% in the first half of June.  TREB has already reported 5,185 transaction up to June 17, 2009 (compared to 8,589 for all of May)
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Compare the Average House Prices from June 2009 to last June 2008. (Both for Toronto and the surrounding GTA) 

 
 


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