Buyer Confidence Boosts GTA Home Sales!
Mid Feb 2010
"Home ownership demand remains strong in the GTA, as households remain confident that economic recovery is at hand and that owning a home will continue to be a quality long-term investment," said Toronto Real Estate Board President Tom Lebour.
The Greater Toronto Area MLS™ sales were 3,555 during the first two weeks of February 2010. This represented a 74 per cent increase compared to the same period in 2009 when resale transactions had dipped due to the recession. The February mid-month sales total was also 7.7 per cent above the previous high set in 2006.
The average price for February mid-month transactions was $429,997 - an 18 per cent increase over 2009. New Listings within the Toronto Real Estate Board boundaries were up 15 per cent, helping to satisfy some of the buyer demand.
"Double-digit price increases will persist through the first quarter of the year," said Jason Mercer, TREB's Senior Manager of Market Analysis. "However, as new listings continue to increase creating a better supplied market, we will see the annual rate of price growth moderate into the single digits."
In North York, total housing resales in January increased by +166% vs the same period last year. The average price was $492,251, which was +21% above last year.
As shown in the chart below, these increases were spread across most of the North York region. Much of this was led by very strong condo sales along the Sheppard Subway line corridor.
North York Sales and Prices by Neighbourhood
Neighbourhood January Average Price % Price change vs ‘09
Willowdale/Newtonbrook C14
$457,923
+38%
Willowdale/Lansing C07 $416,147 +7%
Dublin Heights/Bathurst C06 $518,172 +5%
Bayview Village C15 $439,856 +15%
York Mills C12 $1,427,850 +61%
Don Mills C13 $385,482 +8%
Downsview W05 $292,887 +5%
Condo Sales
Yonge Sheppard C07 – C14 $340,538 +23%
Bayview Sheppard C15 $335,964 +13%
Source: Toronto MLS
Tuesday, February 23, 2010
Thursday, February 18, 2010
GTA REALTORS® REPORT MID-FEBRUARY RESALE HOUSING MARKET FIGURES
TORONTO, February 18, 2010 --
Greater Toronto REALTORS reported 3,555 sales through the Multiple Listing Service during the first two weeks of February.
This represented a 74 per cent increase compared to the 2,044 sales recorded during the same period in 2009 when resale transactions had dipped due to the recession.
The February mid-month sales total was also 7.7 per cent above the previous high set in 2006. "Home ownership demand remains strong in the GTA, as households remain confident that economic recovery is at hand and that ownership housing will continue to be a quality long-term investment," said Toronto Real Estate Board President Tom Lebour.
The average price for February mid-month transactions was $429,997 - an 18 per cent increase over 2009. New Listings within the Toronto Real Estate Board boundaries were up 15 per cent to 6,212.
"Double-digit price increases will persist through the first quarter of the year," said Jason Mercer, TREB's Senior Manager of Market Analysis. "However, as new listings continue to increase creating a better supplied market, we will see the annual rate of price growth moderate into the single digits."
Source: Toronto Real Estate Board
TORONTO, February 18, 2010 --
Greater Toronto REALTORS reported 3,555 sales through the Multiple Listing Service during the first two weeks of February.
This represented a 74 per cent increase compared to the 2,044 sales recorded during the same period in 2009 when resale transactions had dipped due to the recession.
The February mid-month sales total was also 7.7 per cent above the previous high set in 2006. "Home ownership demand remains strong in the GTA, as households remain confident that economic recovery is at hand and that ownership housing will continue to be a quality long-term investment," said Toronto Real Estate Board President Tom Lebour.
The average price for February mid-month transactions was $429,997 - an 18 per cent increase over 2009. New Listings within the Toronto Real Estate Board boundaries were up 15 per cent to 6,212.
"Double-digit price increases will persist through the first quarter of the year," said Jason Mercer, TREB's Senior Manager of Market Analysis. "However, as new listings continue to increase creating a better supplied market, we will see the annual rate of price growth moderate into the single digits."
Source: Toronto Real Estate Board
Thursday, January 7, 2010
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
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
Wednesday, December 9, 2009
GTA Market Update December 2009
GTA sales and price recovery continues
We continue to see huge gains vs last year in both unit sales, +104%, and in the average selling price, +14, demonstrating the strength of the recovery in the Greater Toronto Area marketplace.
While these increases may look strange at first glance, but keep in mind that we are comparing against an abnormally weak period of time last year. The increases are spread across all housing types, reflecting both the pent up demand for housing, as well as higher confidence levels in our economy.
Single Family Price Breakdown – November 2009 vs 2008
Dwelling Type
Median Price – November ‘09
% change
Detached
$445,000
+17
Semi-detached
$359,000
+11
Condo Apartments
$270,000
+19
Condo Townhouses
$268,500
+9
Attached/Row Townhouses
$331,000
+12
There are still a lot of buyers waiting in the wings at all price levels. Listings continue to run well below historical levels and many buyers are having difficulty locating their next dream home. This is a very positive sign for the market as we look forward to next year’s spring market.
Historically, we are presently moving into a slower period of the year as both buyers and sellers become preoccupied with seasonal holiday events and winter vacations. This can be a great time to ramp up your home search as there may not be as much competitive pressure when you do find that wonderful new home. .
Please have a look at the sales information by area below. The strength that we are enjoying is widespread throughout the GTA region.
Contact me if you would like at customized look at your own neighborhood.
Sincerely,
Armand Gilks
Summary of November Sales and Average Prices by Area
November 2009 vs 2008
Sales
%chge
Average Price
% chge
City of Toronto ("416")
3,212
+110%
$450,079
+15%
Rest of GTA ("905")
4,234
+100%
$394,474
+12%
Source: Toronto Real Estate Board
District
Area
Sales % chge Nov ’09 vs Nov ‘08
Avge Selling Price Nov 2009
Price %chge Nov’09 vs Nov ‘08
Total GTA
+104%
$418,460
+15%
C01 Downtown
+134%
$423,359
+22%
C02 Annex/Bloor W, etc
+92%
$755,715
+16%
C03 Midtown
+50%
$747,877
-25%
C04 North Toronto
+158%
$773,119
+35%
C06 Dublin Heights/Willowdale
+108%
$510,510
+/-0%
C08 Cabbagetown/Downtown
+123%
$384,226
+17%
C09 Rosedale
+215%
$1,096,266
-35%
C10 Davisville/ L. Park
+77%
$667,209
+22%
C11 Leaside/Old East York
+67%
$632,785
+43%
C12 Bayview/York Mills
+175%
$1,390,168
+36%
E01 Riverdale/Leslieville
+79%
$481,890
+9%
E02 The Beach/Leslieville
+48%
$574,949
+23%
E03 Danforth/East York
+98%
$390,381
+9%
We continue to see huge gains vs last year in both unit sales, +104%, and in the average selling price, +14, demonstrating the strength of the recovery in the Greater Toronto Area marketplace.
While these increases may look strange at first glance, but keep in mind that we are comparing against an abnormally weak period of time last year. The increases are spread across all housing types, reflecting both the pent up demand for housing, as well as higher confidence levels in our economy.
Single Family Price Breakdown – November 2009 vs 2008
Dwelling Type
Median Price – November ‘09
% change
Detached
$445,000
+17
Semi-detached
$359,000
+11
Condo Apartments
$270,000
+19
Condo Townhouses
$268,500
+9
Attached/Row Townhouses
$331,000
+12
There are still a lot of buyers waiting in the wings at all price levels. Listings continue to run well below historical levels and many buyers are having difficulty locating their next dream home. This is a very positive sign for the market as we look forward to next year’s spring market.
Historically, we are presently moving into a slower period of the year as both buyers and sellers become preoccupied with seasonal holiday events and winter vacations. This can be a great time to ramp up your home search as there may not be as much competitive pressure when you do find that wonderful new home. .
Please have a look at the sales information by area below. The strength that we are enjoying is widespread throughout the GTA region.
Contact me if you would like at customized look at your own neighborhood.
Sincerely,
Armand Gilks
Summary of November Sales and Average Prices by Area
November 2009 vs 2008
Sales
%chge
Average Price
% chge
City of Toronto ("416")
3,212
+110%
$450,079
+15%
Rest of GTA ("905")
4,234
+100%
$394,474
+12%
Source: Toronto Real Estate Board
District
Area
Sales % chge Nov ’09 vs Nov ‘08
Avge Selling Price Nov 2009
Price %chge Nov’09 vs Nov ‘08
Total GTA
+104%
$418,460
+15%
C01 Downtown
+134%
$423,359
+22%
C02 Annex/Bloor W, etc
+92%
$755,715
+16%
C03 Midtown
+50%
$747,877
-25%
C04 North Toronto
+158%
$773,119
+35%
C06 Dublin Heights/Willowdale
+108%
$510,510
+/-0%
C08 Cabbagetown/Downtown
+123%
$384,226
+17%
C09 Rosedale
+215%
$1,096,266
-35%
C10 Davisville/ L. Park
+77%
$667,209
+22%
C11 Leaside/Old East York
+67%
$632,785
+43%
C12 Bayview/York Mills
+175%
$1,390,168
+36%
E01 Riverdale/Leslieville
+79%
$481,890
+9%
E02 The Beach/Leslieville
+48%
$574,949
+23%
E03 Danforth/East York
+98%
$390,381
+9%
Wednesday, October 21, 2009
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%
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%
Sunday, September 6, 2009
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%
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%
Sunday, August 9, 2009
August 2009 Market Update
July sales very strong in the GTA, following a record setting June.
TORONTO, August 1, 2009 - In the month of July, Greater Toronto REALTORS®
reported 9,967 sales up 28 per cent compared to July 2008.
The average price for these transactions was up six per cent year-over-year to $395,414.
The resurgence in home ownership demand experienced in the spring has continued into the
Summer as home buyers continued to take advantage affordable market conditions. The cost of borrowing has been a key factor, as well as a more positive attitude among buyers about the economy.
Summary of July Sales and Average Price
July 2009 vs 2008
Sales %chge Average Price % chge
City of Toronto ("416") 3,880 +24% $421,110 +7%
Rest of GTA ("905") 6,087 +31% $379,035 +6%
GTA 9,967 +28% $395,414 +6%
Source: Toronto Real Estate Board
June also a record high.
This follows June when sale were also +27% vs a year ago. Many of the buyers that we are seeing now are first time buyers or those who are trading up from a condo into the freehold housing market. As a result of this, we are seeing the most activity in the mid price range and are just starting to see some increases in activity at the higher price points above one million dollars.
Details by area for July are shown in the following table.
District
Area
Sales % chge July ’09 vs July ‘08
Avge Selling Price July 2009
Price %chge July ’09 vs July ‘08
Total GTA
+28
$395,414
+6%
C01
Downtown
+35%
$355,431
-4%
C02
Annex/Bloor W, etc
-5%
$596,979
-12%
C03
Midtown
+89%
$668,776
-12%
C04
North Toronto
+40%
$780,943
+13%
C08
Cabbagetown/D’town
+17%
$355,845
+1%
C09
Rosedale
+43%
$979,174
+31%
C10
Davisville/ L. Park
+48%
$733,849
+22%
C11
Leaside/Old East York
+7%
$491,110
+6%
C12
Bayview/York Mills
+59%
$1,418,007
-8%
E01
Riverdale/Leslieville
+/-0%
$463,248
+7%
E02
The Beach/Leslieville
+9%
$514,958
+8%
E03
Danforth/East York
-30%
$377,489
+4%
Overall, the results are very encouraging is, however, there is a shortage of listings and a lot of buyers are still waiting for that right house to come available.
If you would like an update on your specific neighborhood, just let me know and I will prepare a custom package for you.
Sincerely,
Armand
TORONTO, August 1, 2009 - In the month of July, Greater Toronto REALTORS®
reported 9,967 sales up 28 per cent compared to July 2008.
The average price for these transactions was up six per cent year-over-year to $395,414.
The resurgence in home ownership demand experienced in the spring has continued into the
Summer as home buyers continued to take advantage affordable market conditions. The cost of borrowing has been a key factor, as well as a more positive attitude among buyers about the economy.
Summary of July Sales and Average Price
July 2009 vs 2008
Sales %chge Average Price % chge
City of Toronto ("416") 3,880 +24% $421,110 +7%
Rest of GTA ("905") 6,087 +31% $379,035 +6%
GTA 9,967 +28% $395,414 +6%
Source: Toronto Real Estate Board
June also a record high.
This follows June when sale were also +27% vs a year ago. Many of the buyers that we are seeing now are first time buyers or those who are trading up from a condo into the freehold housing market. As a result of this, we are seeing the most activity in the mid price range and are just starting to see some increases in activity at the higher price points above one million dollars.
Details by area for July are shown in the following table.
District
Area
Sales % chge July ’09 vs July ‘08
Avge Selling Price July 2009
Price %chge July ’09 vs July ‘08
Total GTA
+28
$395,414
+6%
C01
Downtown
+35%
$355,431
-4%
C02
Annex/Bloor W, etc
-5%
$596,979
-12%
C03
Midtown
+89%
$668,776
-12%
C04
North Toronto
+40%
$780,943
+13%
C08
Cabbagetown/D’town
+17%
$355,845
+1%
C09
Rosedale
+43%
$979,174
+31%
C10
Davisville/ L. Park
+48%
$733,849
+22%
C11
Leaside/Old East York
+7%
$491,110
+6%
C12
Bayview/York Mills
+59%
$1,418,007
-8%
E01
Riverdale/Leslieville
+/-0%
$463,248
+7%
E02
The Beach/Leslieville
+9%
$514,958
+8%
E03
Danforth/East York
-30%
$377,489
+4%
Overall, the results are very encouraging is, however, there is a shortage of listings and a lot of buyers are still waiting for that right house to come available.
If you would like an update on your specific neighborhood, just let me know and I will prepare a custom package for you.
Sincerely,
Armand
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