GTA Realtors report 4,120 resale housing transactions in February

Toronto Real Estate Board Members reported 4,120 sales in February 2009 compared to 6,015 sales recorded in February 2008. The average home price was $361,305 last month compared to $382,048 during the same month last year.

“A considerable number of transactions continued to take place in February 2009. Motivated buyers and sellers, who were aware that market conditions changed over the past few months, were able to negotiate transactions acceptable to both parties,” said Toronto Real Estate Board President Maureen O’Neill. On a month-over-month basis, sales and average price were above January levels of 2,670 and $343,632 respectively.

February 23, 2009 – March 1, 2009

Here’s a look at the Real Estate Market in Vaughan over the last 7 days:

Vaughan Real Estate Market Overview

There were a total of 33 homes listed in the 8th week of 2009 and a total of 23 sales. The breakdown of new listings includes 6 condos, 4 townhomes, 8 semi’s or links and 15 detached homes with 15 being priced under $500,000, 13 priced between $500,000 and $1,000,000 and none priced over $1,000,000.

The breakdown of sales includes 0 condos, 3 townhome, 6 semis and 14 detached homes with 8 selling for under $500,000, 6 selling between $500,000 and $1,000,000 and 0 selling for over $1,000,000. The average selling price was $467,250. Homes sold for an average of 96.25% of the list price and were on the market for an average of 51 days. Here is the breakdown for week 8.

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