Toronto November 5, 2008.

GTA-wide, prices decline by 10 per cent to $352,974 from last October's average of $394,646. They were down one per cent over the average recorded in October 2006 of $356,423. As with sales, price declines differed according to specific regions.

Breaking down the total, in October 2008, 946 sales were reported in the 23 North Districts and averaged $382,032, as opposed to October 2007 where 1,555 sales were reported and averaged $415,071. The average price dropped down 8% and number of sales dropped by 39%!

Newmarket (N07 district) Market Report:

October 2007:

Active Listings:261, New Listings:168, Sales:109, Average Days on Market:37, Average Price:$359,844 (mostly sold for 98% of asking price).

October 2008:

Active Listings:393, New Listings:209, Sales:90, Average Days on Market:33, average Price:$320,158 (mostly sold for 97% of asking price).

Average Price dropped down 11% and number of sales: 17.5%

For more info or any questions please contact Margaret Kisza at 416 543 9264 or mkisza@sympatico.ca