Toronto’s real estate market is showing faint signs of stabilizing.
There were 2,044 homes sold in the first half of February, compared to 2,775 sales during the same period in 2008, the Toronto Real Estate Board said today.
The average selling price was $364,748, compared to $385,735 in the same period last year (and $343,632 in January, 2009). At the peak, in April, 2008, the average GTA house price was $398,687.
“If this trend continues into the spring, it could point towards average home prices leveling off between $360,000 and $370,000,” Jason Mercer, the board’s senior manager of market analysis.
