Here are the March 2009 results for home sales in Toronto and the GTA. The first half of April, 2009 results are also posted on my website on the Market Watch page. Those results continue to be favourable. The most current stats can be found on my website www.gtamoves.com or www.vitopirri.com .
TORONTO, April 6, 2009 - In March 2009, Greater Toronto REALTORS® reported 6,171 sales - down seven per cent form March 2008, representing the smallest year-over-year decline in the last five months. The average price for March transactions was $362,052 - down less than five per cent from the same month last year.
"The Greater Toronto housing market has stood up very well given the challenging economic times the world has experienced in recent months," commented TREB President Maureen O'Neill.
"In fact, over the past two months, the situation in the housing market has improved." The seasonally-adjusted annual rate of sales increased to 65,600 in March - Up 36 per cent form the ten-year low reached in January."
"Sales in March increased at a rate over and above what would be expected from the normal spring-time bump," say Jason Mercer TREB's Senior Manager of Market Analysis. "A greater number of households have taken advantage of increased affordability in the housing marketplace."
The median price in March was $317,500 from the $326,000 recorded in March of 2008.
Summary of March MLS Sales and Average Price 2008-2009
March 2009
City of Toronto (416): 2009 Sales=2,398 2009 Avg Price=$387,793 2008 Sales=2,527 2008 Avg Price=$404,652
Rest of GTA (905): 2009 Sales=3,773 2009 Avg Price=$345,689 2008 Sales=4,104 2008 Avg Price=$370,274
GTA: 2009 Sales=6,171 2009 Avg Price=$362,050 2008 Sales=6,631 2008 Avg Price=$380,338
