Good news, bad news in Weston real estate

There were big changes in the Ontario real estate market last month. The introduction of the HST is being blamed for plummeting home sales in Ontario and BC, and sales were down in Weston as they were elsewhere.

In Weston, there were 30% fewer sales in July than there were in June, and prices fell 10%, from $346,000 to $315,000 for the typical home. For owners, that compares poorly to the rest of the city. Sales citywide were down 20%, and prices in Toronto as a whole fell only 1.5%.

The year preceding had been very good for Weston homeowners, however. The median price of a home here went up 13% in the 12 months between July of 2009 and June of 2010. So even with the sharp decline last month, homeowners broke more-or-less even last year.

Author: Adam Norman

I am raising my two children in Weston.