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Changing GTA Resale Housing Market Reflects Economic Times; B2 k7 l6 U$ u7 `6 H+ O5 S8 K. |) G
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TORONTO, October 17, 2008 - Activity in the Greater Toronto Area resale housing market
3 l' w) e- I4 x- e* emoderated considerably during the first half of October with 2,700 homes changing hands,9 _4 Z, j5 H, _
Toronto Real Estate Board President Maureen O’Neill announced today.+ c8 }/ x L! g
Sales volumes in the GTA decreased 18 per cent compared to the first half of October 2007,: L) e- E6 I6 {" G2 r
when 3,297 transactions were recorded and are down 10 per cent compared to the same period
5 q- q* }( l$ [$ t4 ` f5 tin 2006 when 3,007 sales took place.
+ U* P3 d' m: g+ j- m/ uIn the City of Toronto 1,140 sales took place in the first half of this month. This represents a 21/ h$ I1 e) { s- |
per cent decline from the 1,446 sales that took place in the same period a year ago and a 13 per5 u. a# [1 H- ]# O
cent decrease from the 1,312 transactions recorded in the first half of October 2006.
; a4 l( ]/ ]9 `. j4 e) W& ^4 Y& H9 @In the 905 Region there were 1,560 sales in the first two weeks of this month, a 16 per cent
, O' v' J; X6 Xdecrease from the 1,851 transactions that took place during the same timeframe in 2007 and
0 x# S# B: u3 V! I0 }0 U$ n. udown eight per cent from the 1,695 homes sold during the first half of October 2006.* c+ E+ j) l; X) Z% z, f4 W5 K
House prices declined throughout the GTA during the first half of the month. The average price+ t8 b+ g: I$ [& w+ M
of a GTA home is currently $353,772, down 11 per cent from $399,013 recorded the comparable2 R! g2 w% ]' A) ?2 l( w
period in 2007./ \$ b, g$ O$ G Y
In the City of Toronto the current average price $375,804, a 15 per cent decrease from the
' q! w& s' H7 S, Z: L$441,878 average recorded at mid-October 2007.
; L2 L2 z2 Y6 |1 W8 }* _- h9 NIn the 905 Region the average price of a home is currently $337,671. This represents an eight
$ u2 c" k2 U+ F- Q, l m: K; }per cent decline from the $365,527 average recorded during the first half of October 2007.
+ R) s' `/ ~% ]+ E# r2 b! }With 27,559 properties currently listed on the TorontoMLS system, there is now 30 per cent
% ~0 j/ X) N* t" g: omore available stock from which to choose as compared to a year ago when 21,182 homes were
- a4 x& ~: B% S7 x/ Alisted.! s2 s9 k1 R- G
“More choice can mean slightly longer wait times for sellers whose homes are now on average,- H1 Y4 g# F1 b7 l9 X5 S
selling after 34 days on the market as compared to 29 days a year ago,” said Ms. O’Neill. “The5 P) S! k, Y7 Y4 h
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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