Resale Homes Mediocre for March
Prospective home buyers and sellers in the GTA can be forgiven for suspending their plans to move throughout the punishing winter of 2008.
Though resale home transactions in the GTA were at a moderate pace during the first half of March, sales declined by 14 per cent in the GTA and 18 per cent in Toronto compared to activity a year ago.
However, despite the understandable decrease, some areas continued to thrive despite the snowy weather. During the first half of March:
Georgina experienced a 39 per cent increase in sales.
The Agincourt area of Scarborough saw a 12 per cent overall increase in sales compared to a year ago based, primarily, on strong condominium unit sales.
Weston held strong with a 28 per cent increase over last year.
Condominium apartment sales in Toronto’s downtown core helped maintain healthy sales activity – up 11 per cent compared to a year ago.
As spring weather sparks renewed interest, the good news is that the value of homes in the city continues to appreciate. The average home in the GTA is $385,405 and $409,116 in Toronto, a five and four per cent increase respectively from last year.
