Last month we predicted June sales would be less than the same time in 2009…and 30 days later, we were correct! In June 2009 the Bloor-Yorkville area saw 50 sales occurring. For June 2010 only 39 took place resulting in a 22% decline in sales. The G20 Conference and an increase in lending rates are two factors we suspect dampened activity in June. Condos were selling for less than 100% of value, (97% of list price on average) giving buyers negotiating room as opposed to earlier months when multiple offers were more common.

For the second month in a row, CASA Condo saw the most activity with 10 firm sales! The building also had the lowest priced listing at $237,000 for a bachelor unit. A 3 million plus sale at One St. Thomas gave the condo bragging rights for the highest sold in June and the second highest sale of the year. The most active floor plan was the ‘1 bed’ unit resulting in 11 sales with the ‘2 bed’ and ‘1 plus den’ following close behind with 10 and 9 units respectively!

The summer months of July and August are typically slow as both buyers and Realtors tend to vacate the City! For the month of July we predict stronger sales than the 31 sales recorded in 2009. Though most of the City will be in vacation mode, we’ll be working hard with even more updates to the blog in an effort to make us your number one choice for info in the Bloor-Yorkville neighbourhood!

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