Comment 83504

By Walter Fielding (anonymous) | Posted December 05, 2012 at 15:33:45 in reply to Comment 83093

With Toronto's forbidding prices cooling dramatically and GHA prices rising to meet market averages, Hamilton can finally showcase strengths other than "cheap and cheerful"

"Home sales continue to slide and prices soften, especially in the 416 region, according to the Toronto Real Estate Board, which recorded a 16 per cent decline in sales compared with November, 2011.

Condos took the biggest hit with resale transactions down 25.5 per cent across the GTA and prices down an average of 2.3 per cent. The biggest declines in condo prices were in the City of Toronto, where they were down almost 4 per cent year over year.

Overall, resale house prices held relatively steady across the GTA, up 1.6 per cent year-over-year to an average of $485,328. But that’s a far cry from the boom days and bidding wars that defined the market up until last spring, with ‘for sale’ signs now gracing front lawns an average of 30 days."

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