Monday, October 4, 2010

Moderation in demand, but prices hold firm...home value survey

After a brisk spring selling season, buyers slammed on the brakes over summer, leading to double digit declines in the new and resale markets from June through August. The sales dip wasn't reflected in pricing though, with average resale values rising overall. The Toronto Real Estate Board reported sales down 22 per cent in August year-over-year but suggested part of that was due to a rush to buy earlier in the year to avoid interest rate hikes. Sales in the year to date are still running 8 per cent ahead of 2009. The average sale price in August clocked in at $411,012 – up six per cent compared to the year previous.

Click here to read the entire Globe & Mail article and to take a look at the recent price movements by neighbourhood as published in the Globe & Mail last updated Friday, Oct. 01, 2010 12:17PM EDT....

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