Thursday, May 7, 2009

Elegant Homes in Lorne Park and Churchill Meadows, Call Betty at 416 427 1875, Market Watch

The Sun Shone a Little Brighter

Greater Toronto REALTORS® report 8,107 Resales in April

TORONTO, May 6, 2009 - In April 2009, Greater Toronto REALTORS® reported 8,107 sales – down seven per cent from April 2008. While April sales remained lower than last year, the resale housing market gained momentum on a month-over-month basis. The seasonally adjusted annual rate of sales in April, at 80,900, was up 26 per cent from March and up two thirds compared to January’s ten-year low.

“Conditions in the resale housing market have improved markedly this spring,” according to TREB President Maureen O’Neill. “Home purchases have increased as households have taken advantage of low interest rates and slightly lower home prices.”

The average price for April transactions was $385,641 – down three per cent from last year. “The rate of average price decline continued to diminish last month. This is due in large part to a tightening in the resale market,” stated Jason Mercer, TREB’s Senior Manager of Market Analysis. “The level of sales relative to new listings increased in April.”

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Are you considering selling your home? I would consider it a priviledge to provide you with a Market Evaluation. We could chat about it at your convenience.

Are you a buyer and would like more information on the activity in Lorne Park, Churchill Meadows and other Mississauga neighbourhoods and homes in the 905 area code, contact Betty.