Tiny leaves by Ollie Crafoord
Realtors from across the Greater Toronto Area made 6,310 sales in September 2010, as reported by the Toronto Real Estate Board. While sales dropped 23% compared to September 2009, when realtors made 8,196 sales, the month-to-month results remained virtually unchanged (there were 6,232 sales in August 2010).
Getting over the hurdle
Year-to-date results show a 4% sales increase compared to the same period of 2009; there were 69,096 items sold in the first three quarters of this year. Toronto Real Estate Board President Bill Johnston explains: “The level of sales in the second half of 2010 has been lower, representing a balancing-out period following record levels of sales in the latter half of 2009 and the first few months of 2010. We remain on track for one of the best years in history for existing home transactions in the GTA.”
The average price reached $427,329, up 5% from last year's $406,877, while the median price reached $360,325. The inflow of new listings into the MLS system reached 12,899 items; the overall stock is 20,334 items, 28% more than in September 2009.
Real estate property spent an average of 33 days on the market before it was sold. In September 2009, the average was 27 days; on the other hand, this period is shorter than in August 2010, when sellers had to wait 36 days. This confirms the market is healthy and well-paced.
