September 2009 Market Update

The Summer strength continues into August.

In August 2009, Greater Toronto REALTORS® reported 8,035 sales, up 27% per cent from August 2008. The average price for August transactions was $387,921 – up by six per cent compared to the same month last year.

"The increase in demand for existing homes has been widespread across different housing types and price ranges," said TREB President Tom Lebour. "This suggests many categories of home buyers have chosen to make a long-term investment in housing, from first-time buyers to move-up buyers or buyers who are seeking a lifestyle change."

"We have heard more positive economic news lately. The improved housing market has played a key role,” explained Jason Mercer, TREB's Senior Manager of Market Analysis. "Home sales have helped other sectors of the economy through home buyers’ spending on things like financial and legal services, moving, renovations and home furnishings."

Available listings are down significantly as a result of the solid sales activity in each of the last 3 months. There are a lot of buyers in the marketplace who are still looking for their next home and September will be an ideal time to list your home if you are looking to sell. Call me for a customized update for your neighborhood.


Summary of August Sales and Average Prices by Area

August 2009 vs 2008
Sales
%chge
Average Price
% chge

City of Toronto ("416")
3,109
+25%
$402,246
+6%


Rest of GTA ("905")
4,926
+27%
$378,880
+65

Total GTA
8,035
+27%
$387,921
+6%

Source: Toronto Real Estate Board



District

Area
Sales % chge Aug ’09 vs Aug ‘08
Avge Selling Price Aug 2009
Price %chge Aug’09 vs Aug ‘08

C01
Downtown
+25%
$375,410
+4%

C02
Annex/Bloor W, etc
+54%
$624,757
-4%

C03
Midtown
+3%
$670,014
-7%

C04
North Toronto
+17%
$580,496
+3%

C08
Cabbagetown/D’town
-6%
$367,388
+5%

C09
Rosedale
-7%
$823,200
+12%

C10
Davisville/ L. Park
+58%
$775,807
+32%

C11
Leaside/Old East York
+33%
$419,920
+11%

C12
Bayview/York Mills
+75%
$1,308,567
+13%

E01
Riverdale/Leslieville
+19%
$445,776
+/-0%

E02
The Beach/Leslieville
+2%
$478,396
-6%

E03
Danforth/East York
+55%
$358,919
+6%