January 2010 Toronto Market Update

Real Estate Continues to be a Great Investment!

Sales and prices for real estate in the Greater Toronto Area continued to show strong recovery in December. Sales for 2009 were 87,308 which was 17% above last year and the second highest level ever achieved in Toronto.

The average selling price in December was $411,931 which represented a 14% increase over the previous December. Listings are still in short supply and if we see a good supply of listings in 2010 we should continue to see strong market growth throughout the year.

As the economy recovers from the global meltdown of last year the strong housing market continues to outpace the gains we see in the TSX stock market.

In the past four years since January 2006, stock prices on the Toronto TSX index have increased 4.2% while the median house price has increased a phenomenal 22.8%.
Much of this increase has come from more moderate priced homes and from condos as sales in more expensive neighbourhoods, while showing good recovery, continue to lag the market.

Changes by neighbourhood are shown in the tables below.

Summary of December Sales and Average Prices by Area

December 2009 vs 2008 Sales %chge Average Price % chge
City of Toronto ("416") 2,403 +117% $441,607 +14%
Rest of GTA ("905") 3,138 +116% $389,205 +14%
Source: Toronto Real Estate Board




District
Area Dec ’09 vs Dec ‘08
Avge Selling Price Dec 2009 Price
%chge Nov’09 vs Nov ‘08
Sales Price & chge
Total GTA +114% $411,931 +14% Days on Market
C01 Downtown +159% $415,916 +17% 24
C02 Annex/Bloor W, etc +92% $845,180 +14% 29
C03 Midtown +95% $802,051 +52% 23
C04 North Toronto +66% $846,204 +3% 23
C06 Dublin Heights/Willowdale +270% $502,312 +39% 23
C08 Cabbagetown/Downtown +78% $387,183 +22% 24
C09 Rosedale +188% $1,467,913 +3% 27
C10 Davisville/ L. Park +113% $681,761 +44% 18
C11 Leaside/Old East York +92% $420,984 +3% 24
C12 Bayview/York Mills +150% $1,768,428 -14% 27
E01 Riverdale/Leslieville +53% $459,128 +5% 17
E02 The Beach/Leslieville -4% $485,884 -4% 14
E03 Danforth/East York +6% $338,148 +6% 22

Condo Sales
C01 Downtown Core +153% $392,168 +18% 24
C08 St Lawrence/Downtown +78% $381,238 +32% 24
C07-14 Yonge Sheppard +136% $346,402 +25% 21
C15 Bayview Sheppard +258% $342,188 +19% 30
Source: Toronto MLS