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Changing GTA Resale Housing Market Reflects Economic Times+ k5 P# V9 b: u5 N! }
' b( s1 S; J1 O) `. _TORONTO, October 17, 2008 - Activity in the Greater Toronto Area resale housing market
$ X) r2 b$ k; U x8 B) }/ Dmoderated considerably during the first half of October with 2,700 homes changing hands,
: I+ ]! P& [ E( S' i* n6 m/ ]Toronto Real Estate Board President Maureen O’Neill announced today.
4 {' B S- B2 v" ~8 R* v* OSales volumes in the GTA decreased 18 per cent compared to the first half of October 2007,
3 N, Y2 I n2 W; E+ Rwhen 3,297 transactions were recorded and are down 10 per cent compared to the same period2 j8 ]+ n2 n" K9 M4 f" }
in 2006 when 3,007 sales took place.
+ D$ F% V5 Z9 @& r: yIn the City of Toronto 1,140 sales took place in the first half of this month. This represents a 21
) o( y- Y1 P4 D; o' `% Mper cent decline from the 1,446 sales that took place in the same period a year ago and a 13 per
- w+ p/ a& `6 ~, Acent decrease from the 1,312 transactions recorded in the first half of October 2006.+ X% L2 U8 i* L' i% ~- y. N
In the 905 Region there were 1,560 sales in the first two weeks of this month, a 16 per cent& G. Y1 U# W D% ~+ R9 k) X
decrease from the 1,851 transactions that took place during the same timeframe in 2007 and
0 J2 j" t) W, `down eight per cent from the 1,695 homes sold during the first half of October 2006.6 `) F; X7 c3 g9 B
House prices declined throughout the GTA during the first half of the month. The average price
; `3 Y: S4 \* U7 N( uof a GTA home is currently $353,772, down 11 per cent from $399,013 recorded the comparable
& O/ |/ }) U* {$ w4 [) T3 ~& operiod in 2007.
. I# Q* F9 G6 }+ ~) C1 c1 M; OIn the City of Toronto the current average price $375,804, a 15 per cent decrease from the& {. n1 @/ l$ {: O: Z1 {1 t8 q
$441,878 average recorded at mid-October 2007.
: n/ z) l* q: _5 BIn the 905 Region the average price of a home is currently $337,671. This represents an eight
8 Y+ \5 I$ b3 v, X0 g' T' yper cent decline from the $365,527 average recorded during the first half of October 2007.
9 r4 t: p0 O/ J/ l; o5 o2 _4 l. `With 27,559 properties currently listed on the TorontoMLS system, there is now 30 per cent
5 a x3 u+ |! ]! T* X2 t6 }2 Pmore available stock from which to choose as compared to a year ago when 21,182 homes were
% w# D8 Y, K! m/ F* g& rlisted.
$ h. ^1 d" W: L, ]“More choice can mean slightly longer wait times for sellers whose homes are now on average,/ w7 g) Y) s& i9 r7 W! t6 H
selling after 34 days on the market as compared to 29 days a year ago,” said Ms. O’Neill. “The6 p0 \& }8 O4 J( _: p: h3 ], n- \
list to sales ratio is 97 per cent of the list price.” |
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发表于 2008-10-25 13:47
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