A Beautiful 3 bedroom plus den family home - $558,000

June 4, 2008

MAY SALES AT 9,411

TREB members saw 9,411 sales of single family dwellings in May, TREB President Maureen O'Neill announced today. "While off last year's pace, a 9,000 plus sales month is certainly indicative of a healthy market," said the President. Prices trended upward on a year-over-year basis, with the overall average going to $398,148, up four per cent over the May 2007 figure of $382,787. Inventory has increased 15 per cent - good news for potential homebuyers as it should keep price increases to the low single digits.

Condominiums in the central areas C01, C02, C08, C09 and C10 are selling at 100 per cent asking price. Condo apartment sales are 21.7 per cent of all single family residential sales. 

In the north N14 area (King Township) 260 homes were listed and 68 sold for an average price of $732,018 and median price of $570,000. For more detailed information please contact me at 416-964-7291.

MORE NEWS..... Excerpted from OREA'S Realtor Edge June 2008

The deterioration in economic and financial conditions in the United States will have direct consequences for the Canadian economy, the Bank of Canada said in May. Nevertheless, domestic demand remains strong, supported by firm commodity prices, high employment levels, and the effect of the cumulative easing in monetary policy. The Bank projects that the Canadian economy will grow by 1.4% this year, 2.4% in 2009, and 3.3% in 2010. The emergence of excess supply in the economy should keep inflation below 2% through 2009.

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