A few of the home buyers are finally taking a bit of a vacation from shopping.
But even though the number of home sales slowed down by 6% compared to record-breaking May, June’s sales were still up almost 20% over the same month last year.
The average price of a home went down slightly by less than one percent to $381,963, but don’t take that as a sign of a declining market. It’s simply a reflection of the slower summer season.
It’s still a great time to buy. Inventory is still good but other shoppers may be on holidays.
If you are selling and have flexibility in timing, try to hold off until the fall. But if you have to sell now, you will still see solid activity.
On a record-breaking note, a Forest Hill home may be the most expensive piece of Toronto residential property – it sold for $15.8 million. Just think, if they bought it next year, they might have had to pay an extra $312,000 in proposed land transfer tax increases!
Neighbourhood Watch – June 2007
E02 -The Beach (coxwell, danforth, victoria park)
E03 – Danforth North (DVP, victoria park, danforth)
E01 – Danforth South & Riverdale (DVP, danforth, coxwell)
C04 – Bedford West & Lytton Park (allen, 401, yonge, eglinton)
C09 – Rosedale (yonge, st.clair, bayview, bloor)
C03 – Forest Hill (allen, eglinton, yonge, st.clair)
C12- Lawrence Park/Bedford East (yonge, 401, leslie, eglinton)
Source: Toronto Real Estate Board April 2007 MarketWatch – for the full report, click here.
To have this blog sent to someone you know who is looking to buy or sell, send their email to email@example.com