September 3, 2010 -- Greater Toronto REALTORS® reported 6,232 sales through the Multiple Listing Service® (MLS®) in August 2010. This represented a 22 per cent decrease compared to the 8,035 sales recorded during the same period in 2009. New listings decreased by one per cent year-over-year to 10,488."The prospect of interest rate hikes and new mortgage lending rules prompted some households to purchase a home sooner than they otherwise would have this year. The result has been a larger than normal dip in sales over the summer months. With this said, it is important to recognize that sales on the year were eight per cent higher than in 2009," said Toronto Real Estate Board President Bill Johnston.The average price for August transactions was $411,012 – up six per cent compared to the average of $387,921 reported in August 2009."Market conditions have remained tight enough to support higher home prices in comparison to last year. Under current mortgage lending standards, a household earning the average income in the GTA can comfortably afford the mortgage payments on an average priced home. Market conditions and the affordability picture would have to change dramatically before a sustained drop in the average selling price would take place," said Jason Mercer, TREB's Senior Manager of Market Analysis.
If You're Looking For A Bright & Spacious Bungalow That's Move-In Ready, This Is It! Warm & Inviting From The Moment You Step Inside. Thousands Spent In Upgrades Including: Updated Baths, Kitchen, Stainless Steel Appliances, HVAC & Walk Out To Private Side Yard Covered Deck w/BBQ & Natural Gas Line. A Spectacular Family Room Addition w/ Vaulted Ceilings & Extra Large Sliding Windows Sets This Bungalow Apart From Others. Separate Entrance To Finished Basement With Oversized Above Grade Windows That's Easy To Convert To An In-Law Suite, Tons Of Built In Storage, Hardwood Floors Thru-Out, Double Car Garage, 2 Fireplaces & More. Steps To TTC, Parks, Shopping & Schools. Earl Haig School District. This Is A Must See!!!! Please don’t hesitate to contact us, we’re happy to answer any questions you have. Jason Walker | Realtor 416-930-3301 | 1jawalker@gmail.com
Comments