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Average price in the city is $437,205, up 6% from last year

Inventory may have been scarce in recent years, but that's not the case any more.

The Toronto Real Estate Board reports inventory is up 11%, compared with a year ago. A wider selection from which to choose hase also resulted in an increase in "days on market," which has risen to 35 from last year's 28. That said, the first half of May saw moderate sales and healthy price increases in the greater Toronto area resale housing market.

In the GTA, there were 1,734 sales, representing a 15% decline from the 2,053 homes sold during the first half of May, 2007. The average price in the 416 is $437,205, up 6% from $412,701 a year ago. In the 905, there were 2,688 sales, down 9% from 2,950 a year ago but up 4% from the same period in 2006. At $377,688, the average price is up 7% from the $353,192 recorded during the same time frame in May, 2007.

National Post
May 24, 2008

Posted on Thursday, May 29, 2008 at 04:14PM by Registered CommenterElaine in | CommentsPost a Comment

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