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Masoud Behbahani
Sales Representative

Kingsway Real Estate
Brokerage

151 City Centre Dr. #300, Mississauga, ON L5B 1M7

Phone: 905-268-1000  Mobile: 416-579-1860  Fax: 905-277-0020

Market More Balanced in June - MarketWatch

July 6, 2010

Market More Balanced in June

 

TORONTO - Tuesday, July 6, 2010

 

Greater Toronto REALTORS® reported 8,442 sales through the Multiple Listing ervice® (MLS®) in June. This represented a 23 per cent decrease compared to the record 10,955 sales reported in June 2009. Sales for the second quarter of 2010

amounted to 28,810 – up one per cent annually. Year-to-date sales through June were up 23 per cent to 50,455 compared to the first six months of 2009.

 

“We experienced a record number of existing home sales during the first half of 2010, but these sales were weighted more towards the beginning of the year,” said Toronto Real Estate Board President Bill Johnston. “The pace of home sales has moderated

from record levels over the past two months with the prospect of higher mortgage rates.”

 

The average price for June transactions was $435,034 – up eight per cent compared to the average of $403,972 recorded for June 2009.

 

“With more homes to choose from in the second quarter, many home buyers have been making less-aggressive offers. This has resulted in less upward pressure on the average selling price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

“The annual rate of average price growth in the second half of 2010 will be in the single digits.”

 

  • Click here for complete Market Watch. pdf

     

     

    If You know someone who is looking to buy or sell I would be happy to help!

    Your referrals are greatly appreciated.

     

    Masoud Behbahani

 


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