Low inventory levels kept the Greater Toronto Area resale housing market brisk but well off record levels last month, announced today Toronto Real Estate Board President Maureen ONeill.
Overall sales in the GTA declined 22 per cent compared to March 2007, 27 per cent in the City of Toronto and 18 per cent in the 905 suburbs, said Ms. ONeill. Its important to recognize though, that despite the worst winter in decades, 6,631 homes changed hands last month in the GTA and that is still a significant number.
March 2007 GTA (Greater Toronto Area) average price $365,285.
March 2007 Toronto Central MLS districts $471,804
March 2008 GTA (Greater Toronto Area) $380,338
March 2008 Toronto Central MLS districts $481,115
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