March ,03,2008

Overall sales in the GTA for the March 2008 declined 22 per cent compared to March 2007, 27 per cent in the City of Toronto and 18 per cent in the 905 suburbs. The Totall of 6,631 homes changed hands last month in the GTA .

Totall new listing home 20,533, was down six per cent from a year ago, kept prices strong in March.Compared to last March, the average price in the GTA rose four per cent to $380,338 and two per cent in the City of Toronto to $404,361.

As well, a few neighbourhoods experienced increased sales activity last month.

Bowmanville (E17) saw a three per cent increase in transactions compared to March 2007, driven primarily by strong detached home sales.

Sales in Burlington (W25) were up 18 per cent compared to a year ago, with brisk activity in most housing categories.

Thorncliffe Park (C11) saw a six per cent overall increase in transactions, based mainly on semi-detached sales.

Increased semi-detached transactions also drove sales in Georgina (N17) up one per cent compared to last March.