June 2007 Market Watch

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)
Detached: $647,049
Semi-detached: $477,510
Condo: $319,133

E03 - Danforth North (DVP, victoria park, danforth)
Detached: $415,256
Semi-Detached: $388,488
Condo: $185,710

E01 - Danforth South & Riverdale (DVP, danforth, coxwell)
Detached: $459,592
Semi-Detached: $419,510
Condo:$388,280

C04 - Bedford West & Lytton Park (allen, 401, yonge, eglinton)
Detached: $836,540
Semi-Detached: $512,750
Condo: $258,986

C09 - Rosedale (yonge, st.clair, bayview, bloor)
Detached: $1,973,567
Semi-Detached: $1,448,333
Condo: $589,200

C03 - Forest Hill (allen, eglinton, yonge, st.clair)
Detached: $1,434,230
Semi-Detached: $462,913
Condo: $452,680

C12- Lawrence Park/Bedford East (yonge, 401, leslie, eglinton)
Detached: $1,548,882
Semi-Detached: $390,000
Condo: $413,892

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 info@markrichards.ca