The Toronto Real Estate Board released the March 2009 statistics for the GTA. The number of sales to date was 6,171 compared to 6,631 in March of 2008 representing a drop of just 7%. The number of days on the market increased from 30 in 2008 to 40 in 2009 (last month it was 45 days, so we are experiencing a shorter time on the market). The listing inventory grew to 23,642 units from 20,633 units during the same time last year. The median price for the GTA was $326,000 in March of last year compared to $317,500 this year.
In the Central District of Toronto, the median price was $348,000, the average price was $455,899. The average percent to list came in at 96%. The average number of days on the market was 39 days compared to the GTA average of 40 days. Overall, over $470 Million worth of real estate traded in the central core of Toronto during the month of March.
Source: The Toronto Real Estate Board – Market Watch
