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

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By John Pasalis

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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Published: January 09, 2009
John Pasalis
John Pasalis - John Pasalis is the founder and President of Move Smartly, a Toronto real estate brokerage that helps buyers, sellers and investors navigate the Greater Toronto Area housing market. A frequent commentator on Toronto real estate, John has contributed to the Globe and Mail, BNN Bloomberg and the Wall Street Journal, and his work has been cited by the Bank of Canada, the IMF and CMHC.

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