John Spears – Toronto Star

The num­ber of exist­ing homes sold in Sep­tem­ber in Greater Toronto dipped 23 per cent in Sep­tem­ber, com­pared with Sep­tem­ber a year ago, says the Toronto Real Estate Board.

Board mem­bers recorded 6,310 sales in Sep­tem­ber, down from 8,196 a year ago.

But prices rose despite the softer sales, with the median price of a home ris­ing to $360,325 from $347,000 a year ago. The median price marks the point where half the homes sold for more, half for less.

The aver­age price also climbed, to $427,329 from $406,877 a year ago.

Softer sales vol­ume isn’t sur­pris­ing after the record sales chalked up by the mar­ket in the sec­ond half of 2009 and early 2010, said Bill John­ston, pres­i­dent of the real estate board.

Mean­while in a national sur­vey, Re/Max says the out­look for Canada’s home resale mar­ket looks healthy going into the final three months of 2010, after a sum­mer “pause.”

The national real-estate sales orga­ni­za­tion says it antic­i­pates fewer sales than in the sur­pris­ingly strong fourth quar­ter of 2009 but prices are expected to hold up.

Re/Max says there hasn’t been a big influx of list­ings, while demand has nor­mal­ized after a very hot period in late 2009 and early this year.

It also says there was a good sign from the num­ber of higher-end prop­er­ties sold this sum­mer in both smaller and larger centres.

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