Downtown Toronto Condos Statistics MLS C08: August 2008

Today were taking alook at how the market did for the month August 2008.  We are only looking a Downtown Toronto Condo Sales in the MLS district CO8.  Last week we took a look at C01 stats, you can view them here:  Downtown Toronto Condos Statistics: August 2008 MLS C01

Average Days on Market

The average days on market for August was 22.53 days, up 4.06% over august 2007.

Condos Unit Solds

August saw 88 units sold in C08,  That is down from July’s 119 and also down from august 2008’s 115.

Average Selling Price C08

The average selling price for August is $317,014,  This is up over August 2008’s average of $300,760.  It is down from July’s selling price average of $337,880.

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Cityplace Condos on Spadina

Looking South from the corner of Front st. at the Cityplace Condos complex, including Brunel Ct.  Wait for the updated photo in a years times.  I am sure there will be a drastic change with all the new construction going on.

Steven Campbell, Sales Representative
Forest Hill Real Estate Inc., Brokerage

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Toronto Real Estate Terrible MLS Photo of the Day #26

This isn’t the worst photo I have seen, but when you list a property for sale you want to show it in the best possible light.  This photo is very grainy.  Digital cameras are really cheap now, you can get one that decent one for just over a hundred bucks.   Taken with a better camera and resized to TREB proportions and this photo would have been good.

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Toronto Real Estate Board Market Update: Greater Toronto Area Resale Housing Moderate in September

The Greater Toronto Area’s autumn resale housing market began with moderate activity, Toronto Real Estate Board President Maureen O’Neill announced today.

With 2,726 sales during the first half of this month, activity has declined 16 per cent from the 3,236 recorded during same time period a year ago. Compared to the 2,913 transactions recorded during the first half of September 2006, activity has declined six per cent.

In the City of Toronto, 998 sales were recorded, which represents a 23 per cent decline from the 1,297 transactions recorded in the first half of September 2007 and an 11 per cent decline from the 1,118 homes that changed hands in 2006. However, activity increased 16 per cent in the first half of September 2007 from the same period in 2006.

In the 905 Region, there were 1,728 sales, down 11 per cent from the first half of September 2007, when 1,939 transactions were recorded and within four per cent of the 1,795 sales recorded during the same timeframe in 2006. However, activity increased eight per cent during the first two weeks of September 2007 as compared to 2006.

“Although housing activity in the GTA remains moderate, we’re continuing to see a consistent pattern, and this stability is certainly positive news compared to markets in other sectors and in other world cities,” said Ms. O’Neill.

At $366,158 the average price of housing in the GTA has increased marginally from the $364,364 recorded a year ago and is up nine per cent from $335,208 recorded in September 2006.

In the City of Toronto, the average price is $386,524 up marginally from the $384,796 recorded in the first half of September 2007 and up 12 per cent from the $343,561 average from the same period in 2006.

In the 905 Region, the average price is $354,395; an increase of one per cent from $350,698 recorded a year ago and up seven per cent from $330,005 recorded in the first half of September 2006.

“The fact that prices have held firm despite moderate activity shows that consumers regard real estate as a sound investment,” said Ms. O’Neill.

The percentage of asking price that Sellers receive for their homes has also remained consistent. The list to sale price ratio is 98 per cent, as it was a year ago.

The 26,299 properties listed for sale on the TorontoMLS system have increased 26 per cent from a year ago when 20,841 homes were available. The time that homes remain on the market has increased as well, to an average of 37 days compared to 31 days a year ago.

In a few areas though, activity heated up during the first two weeks of the month.

Transactions in Bowmanville (E17) increased 66 per cent from a year ago, as a result of strong detached home sales.

In Streetsville (W20) activity increased seven per cent compared to mid-September 2007 due mainly to semi-detached sales.

Vaughan (N02) saw a 20 per cent increased in transactions from a year ago due to strong sales of all housing types.

Source: TREB (Toronto Real Estate Board)

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Looking Up at Water Park City

Looking way up from under Water Park City from the Fort York Blvd. Side.

Steven Campbell, Sales Representative
Forest Hill Real Estate Inc., Brokerage

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Downtown Toronto Condos Statistics: August 2008 MLS C01

The below statictics are for Downtown Toronto Condos in MLS District C01 for the Month of August 2008.  Watch in the next couple of weeks for August stats for Cityplace, Liberty Village, Waterpark City and other area’s in the downtown core.

Average Days on Market

The average days on market for August 2008 was 26.95 days, which is marginally higher over July.

Condos Units Sold

August saw 251 condo units sold, down from 333 units sold in July and down from 297 in August 2007.

Average Condo Selling Price

August 2008’s average selling price in Downtown Toronto C01 was $331,611, Down from $351, 016 in July.  Interestingly the August 2007 Average Selling price was $331,631.

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