November 19, 2008 — Greater Toronto REALTORS® recorded 1,991 resale transactions during the first half of November 2008 from 3,544 sales recorded during the same period a year ago, Toronto Real Estate Board President Maureen O’Neill announced today. The Greater Toronto Area year-to-date figures show 70,474 sales in 2008 from 84,994 recorded during the same […]Read More
The news is filled with headlines about the state of today’s housing market south of the border-“Foreclosure sales are up.” “Real estate prices are down.” “Borrowers are defaulting on sub-prime loans.” It’s easy to be confused and uncertain about whether now is a good time to buy a home. Although the Canadian market is not […]Read More
Interesting article on the Canadian Housing Market. Market update – CIBC October 3, 2008Read More
Market Watch August 2008 – Toronto Real Estate BoardRead More
September 4, 2008 — The Greater Toronto resale housing market closed out the last full month of summer at a steady pace, Toronto Real Estate Board President Maureen O’Neill reported today. The Greater Toronto Area (GTA) average price increased one per cent, to $364,886 when compared to last August’s figure of $361,890. Compared to the […]Read More
August 19, 2008 — The Greater Toronto Area (GTA) resale housing market remained stable throughout the first half of this month, Toronto Real Estate Board President (TREB) Maureen O’Neill announced today. “We’re continuing to see consistent levels with respect to sales volumes and prices,” said Ms. O’Neill. “While the numbers are more conservative than those […]Read More
GTA – New Home Market, JuneRead More
August 6, 2008 — With 7,806 transactions recorded last month, the Greater Toronto Area (GTA) resale housing market continued at a moderate pace in July, Toronto Real Estate Board (TREB) President Maureen O’Neill announced today.
Prices remained stable throughout the GTA in July. At $371,427 the average price increased slightly more than one per cent from $366,012 recorded in July 2007 and nine per cent from the $342,034 figure of two years ago.
In the City of Toronto the average price of $395,342 increased less than one per cent from the July 2007 price of $395,044 and 10 per cent from the July 2006 figure of $360,409.
In the 905 Region the average price increased three per cent to $355,401 compared to the July 2007 figure of $345,967. This also represents an eight per cent increase from the July 2006 average of $329,644.
“Sales declined 12 per cent last month from the best-ever July 2007 record of 8,912 but increased 10 per cent from the 7,082 sales transacted in July 2006,” said Ms. O’Neill. “Comparing July 2007 with July 2006, sales increased by 26 per cent.”
In the City of Toronto 3,132 sales were recorded, down 14 per cent from July 2007’s 3,640 transactions but up 10 per cent from the 2,852 sales recorded two years ago in 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
In the 905 Region there were 4,674 transactions, down 11 per cent from July 2007’s 5,272 sales but up 10 per cent from the 4,230 sales recorded in July 2006. Comparing July 2007 with July 2006, sales increased 25 per cent.
From a year-to-date perspective, the GTA’s 51,249 sales in 2008 have declined 14 per cent from the 59,339 reached at this time a year ago.
Certain neighbourhoods throughout the GTA experienced increased sales activity in July.
In Whitby (E15) sales increased 22 per cent from July 2007, based on strong sales in most housing types.
Brampton East (W24) saw a 12 per cent increase, based primarily on semi-detached home sales.
Strong detached home sales drove Uxbridge (N16) to a 23 per cent increase compared to a year ago.
The Annex (C02) experienced a 29 per cent sales increase due to strong detached home and condominium apartment sales.
In addition to stable prices, the list to sale price ratio, at 98 per cent, remains unchanged from a year ago.
“While homeowners continue to see healthy returns, it is taking slightly longer to achieve a sale; the average time on market has increased to 33 days compared to 31 days a year ago,” said Ms. O’Neill. “This may be due to that fact that there is now more choice available to homebuyers; there are currently 26,543 active listings, a 28 per cent increase from a year ago.”Read More
GTA Resale Housing Market Moderate in May May 20, 2008 — Moderate sales and healthy price increases continued to characterize the GreaterToronto Area resale housing market during the first half of May, Toronto Real Estate Board President Maureen O’Neill announced today. “With 4,422 sales throughout the GTA in the first two weeks of this month, […]Read More
TD Economics – Special Report – April 10th, 2008Read More