Market Update – October 1, 2009

Average selling price +10% in the GTA

Many, if not all of you have likely seen the headlines this week about the ongoing strong recovery of the Toronto real estate market. Sales have continued to post excellent gains from June right through to September when unit sales were up 28% in the GTA and +31% in the central 416 area. The changes by area are shown in the table below.

As in the previous few months, sales increases were strongest in the lower price ranges and in condominiums. We are also now seeing increasing, and steady strength in the market above one million dollars.

While sales are up, the available listings in September were -42% vs the levels of last September. This is definitely creating a seller’s market and resulting in a lot of ‘multiple offers’.

If you are looking to sell, this is an ideal time to take advantage of this very strong market.
Give me a call to talk about selling your home.

Sincerely,

Armand


Summary of September Sales and Average Prices by Area

September 2009 vs 2008
Sales
%chge
Average Price
% chge

City of Toronto ("416")
3,341
+31%
$437,182
+11%


Rest of GTA ("905")
4,855
+25%
$386,022
+10%

Total GTA
8,195
+28%
$406,871
+10%

Source: Toronto Real Estate Board



District

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

Total GTA
+28
$406,871
+10%

C01
Downtown
+38%
$406,163
+13%

C02
Annex/Bloor W, etc
+47%
$790,425
+29%

C03
Midtown
+3%
$577,839
-13%

C04
North Toronto
+8%
$767,426
+25%

C08
Cabbagetown/D’town
+56%
$374,572
+2%

C09
Rosedale
+91%
$1,048,314
+20%

C10
Davisville/ L. Park
+52%
$701,242
+13%

C11
Leaside/Old East York
+95%
$608,012
+/-0%

C12
Bayview/York Mills
+61%
$1,171,743
+1%

E01
Riverdale/Leslieville
+49%
$474,846
+8%

E02
The Beach/Leslieville
-7%
$573,495
+4%

E03
Danforth/East York
+4%
$401,036
+16%