Friday, May 22, 2009

Toronto real-estate market stabilizes

Toronto - Home sales around the GTA for the month of May are running ahead of last year's pace.

Prices are holding steady even with the concerns about the economy.

After a brutal start to the year things seem to have stabilized in the real-estate market.

The Toronto real-estate board said that in the first two weeks of may there were 4,500 sales.

That number is up by 3 per cent compared to last year.

The average selling price was just shy of $400,000, which is almost the same as a year ago.

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