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Toronto Real Estate Sales Down 20% in 2008, Prices Flat

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John Pasalis in Toronto Real Estate News

The Greater Toronto area's real estate market experienced a 20% decline in sales in 2008 according to numbers released in the Toronto Real Estate Board's December Market Watch report.  There were 74,552 sales in 2008 compared to 93,193 in 2007.  Prices in the GTA for 2008 rose by $3,000 to $379,347.

Here's a summary of the 2008 stats for the GTA as a whole along with separate figures for the City of Toronto and the 905 region. 

2009Stats 

Read TREB's complete Market Watch report here.

Read TREB's press release here.

John Pasalis is a sales associate at Prudential Properties Plus in Toronto and a founder of Realosophy. Email John

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John Pasalis
John Pasalis
John Pasalis is President of Realosophy Realty, a Toronto real estate brokerage which uses data analysis to advise residential real estate buyers, sellers and investors. A specialist in real estate data analysis, John's research focuses on unlocking micro trends in the Greater Toronto Area real estate market. His research has been shared with the IMF and cited by the Bank of Canada and CMHC. A frequent commentator on the Toronto housing market and real estate consumer and industry issues, John has contributed to the Globe and Mail, CBC, BNN Bloomberg, TVO's The Agenda, Toronto Star and other media, national and international government and industry organizations. John holds a B.Sc. in Economics from the University of Toronto and is a candidate in the Doctorate of Business Administration Program at the University of Toronto and Henley Business School (UK).
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