Toronto Real Estate sales dropped 14% in the first 2 weeks of February compared to the same period a year ago according to the Toronto Real Estate Board.
The number of resales were 2,775 in the Greater Toronto Area (GTA) , down from 3,240 reported in the same period in 2007.
The City of Toronto was down even more with resales down 18% compared to the 2007 period.
On a good note the average price of a home in the GTA rose 7% on a year to year basis and the average price in the City of Toronto rose 11% to $434,657.
So we have the bad news-good news and we will have to wait to see how the Spring Market sales play out.
The Toronto downtown lifestyle offers even more Toronto Condos planned for 2008 and Condo developers will add new exciting projects in the future.
One of many new Luxury 5 star Hotel/Condos now appearing on the market is The Hazelton Hotel situated in Yorkville. Here you can enjoy elegant dining in one of Toronto’s exceptional restaurants or even sip a coffee in their street level patio and watch shoppers stroll and shop in Yorkville’s trendy shops.
We all can participate in Toronto’s future development.
There are some very interesting resales of Condos, Lofts and Homes on my Toronto Real Estate website.
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