The Greater Toronto Area year-to-date figures show 70,474 sales in 2008 from 84,994 recorded during the same period in 2007. The year-to-date average price was recorded at $380,470 in 2008 from $374,678 in 2007.

In the 416 area, 830 homes changed hands in the first two weeks of November from 1,643 transactions recorded during the same time frame a year ago. The year-to-date figures show 28,126 compared to 35,045 recorded in 2007. In the 905 Region there were 1,161 sales during the first half of the month from the 1,901 transactions
recorded at mid-November 2007. The year-to-date figures show 42,348 compared to 49,949 recorded in
2007.

‘It’s particularly important to interpret the 416 area statistics in context given the market surge we saw a year ago when buyers moved to avoid the new Toronto Land Transfer Tax,” said Ms. O’Neill. “At midmonth a year ago, transactions in the 416 area had increased 24 per cent over the same period in 2006.”

In the first two weeks of November 2008, the average price of a home in the GTA was $375,712 compared to $393,084 recorded a year ago.

In the 416 area, homes are currently selling for an average of $400,305 from the $432,972 average recorded during the same time period in 2007. An average price of $383,029 was recorded in the first two weeks of November 2006.

In the 905 Region the average price is currently $358,130 from $358,610 recorded a year ago. During the first half of November 2006 the average price was recorded at $336,576.

“As an investment, a home not only offers shelter and an environment in which life’s most important moments are shared, but also offers financial appreciation in the long term, said Ms. O’Neill.”

Currently there are 27,562 homes listed for sale on the TorontoMLS system compared to a year ago when 20,173 properties were available. As such, the average time homes are remaining on the market is 41 days from 31 days in 2007. Sellers are currently achieving 97 per cent of their list price.

Source: TREB (Toronto Real Estate Board)

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Yonge St. Condos North York, originally uploaded by Toronto Real Estate/Condos.

4968 and 4978 Yonge St.

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This represents a 35 per cent decline from the 7,915 sales reported in October 2007 and a 25 per cent decrease from the 6,876 transactions that took place during the same period two years ago.

In the City of Toronto, there were 2,136 sales, with sales activity down 38 per cent from the 3,455 transactions recorded last October.

In the 905 Region 3,019 sales were recorded, with sales activity down 32 per cent from a year ago when 4,460 homes changed hands.

With 68,570 transactions to date this year, sales are within 16 per cent of the 81,563 transactions noted a year ago. The 2007 market referred to was a record breaking year with each month breaking records for the entire year. Putting into perspective 2008 figures are indicative of a return to a more balanced market.

In the City of Toronto 27,324 sales year-to-date are within 18 per cent of the 33,441 transactions recorded last year at this time.

In the 905 Region the 41,246 sales to date are within 14 per cent of the 48,122 homes that changed hands up to this point a year ago.

In the City of Toronto, the current average price of a home is $376,896, down 13 per cent from last October’s average of $434,022 and within three per cent of the October 2006 average of $386,807.

In the 905 Region homes are selling for an average price of $336,049, a decline of eight per cent from October 2007’s average of $364,142. Prices in this area however, remain one per cent higher than the October 2006 average of $332,822.

“Earlier this year the International Monetary Fund undertook a study of housing markets in 17 countries and found that Canada was one of only two nations in which house prices are supported by the economy,” said Ms. O’Neill. “There’s no doubt that real estate will continue to be a solid long-term investment in our country.”

Source: TREB (Toronto Real Estate Board)

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Within the City of Toronto, 2,136 sales were recorded. This was down 38 per cent from the 3,455 sales recorded in October of last year. In the 905 suburbs, however, the 3,019 sales recorded were down 32 per cent from October 2007’s figure of 4,460.

GTA-wide, prices declined 10 per cent to $352,974 from last October’s average of $394,646. They were down one per cent over the average recorded in October 2006 of $356,423. As with sales, price declines differed according to region.The City of Toronto average was $376,896, down 13 per cent from the $434,022 recorded during the same month in 2007, and down about three per cent from the $386,807 recorded in October 2006. Meanwhile, the average for the City’s 905 suburbs was $336,049.This is down eight per cent from the $364,142 recorded last October, and up one per cent from the $333,166 recorded in October 2006.

Breaking down the total, 2,064 sales were reported in TREB’s 28 West districts and averaged $335,329; 892 sales were reported in the 14 Central districts and averaged $450,437; 946 sales were reported in the 23 North districts and averaged $382,032; and 1,253 sales were reported in TREB’s 21 East districts and averaged $290,719.

Source: TREB (Toronto Real Estate Board)

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31-bales-entrance-from-2nd-floor, originally uploaded by Toronto Real Estate/Condos.

A cool view of the joined entrance way to 31 and 35 Bales Ave Condos. This photo is from the second floor of 31 bales looking east towards the entry point.  Bales Ave is located in Toronto’s, North York at Yonge and Sheppard.

Also See

• Featured Toronto Condos:  31 Bales Ave, North York
• North York Condos:  A View from 31 Bales Ave.

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Looking up from street level on Pemberton Ave.  The Paramount is located half a block from Finch TTC subway station and right at the corner of Finch and Kenneth Ave.

Related Condos

Pemberton Ave Condos
North York Condos: 35 Finch Ave East

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Back in February I started working on this series to offer up a guide to Toronto Condos.  Hopefully you have been reading them along the way.  I have now published 10 featured articles.  Watch for upcoming features including Pemberton Ave, Beecroft Rd and Olive Ave.  On this site the series has been mostly focus on North York Condos in MLS district C14 and C07,  Starting next week I will be starting a new series on my other Blog called Featured Downtown Toronto Condos.

• 797 Don Mills Road 
• 28 Harrison Garden Blvd
• 33 Empress Ave.
• 1 Rean Dr.
• 33 Sheppard Ave East
• 10 NorthTown Way
• 17 Barberry Place
• 31 Bales Ave.
• 19 Avondale Ave.
• 60 Byng Ave.

Watch as this series gets more frequent, leave a comment if you would like to see a particular condo building featured.

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60 Byng Ave., The Monet

60 Byng Ave is a beautiful Toronto Condo located in North York just south of Finch Ave and east of Yonge St.  Byng is walking distance to Finch and North York Centre TTC stations, Empress Walk, shopping, restaurants and entertainment.  Highway 401 is a short drive south on Yonge street.  Centerpoint Mall is a short drive North.

Condo Apartment Building

60 Byng The Monent is a luxury condo apartment building that was completed in 2004 and features units ranging in size from 1 bedroom to 2 bedroom plus den.  The higher floors feature breathtaking views.  The amenities include 2 indoor pools, virtual golf, party room, recreation room,  suana, security guard and security system

Maintenance Fees

The maintenance fees for 60 Byng covers:  water, heat, hydro, central air conditioning, parking building insurance and common elements. 

Other Condos in this Area

• Olive Ave
• Bishop Ave
• Finch Ave
• Beecroft Rd.

Fill in the Form below to receive a list of condos currently available for sale on Byng Ave including Photos and Pricing.

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The most active districts for rentals within the GTAfor apartment rentals remained in the downtown core (C01,which had 1,130 rental transactions), North York (C14, with 500 rentals), and Cooksville (W15, with 402 rentals). With townhouses, the most active districts were within Mississauga (W19 and W20, with 33 and 49 rentals respectively), and North York (C14, with 26 rentals).

As noted previously, rents in all categories of leased property increased during the May to August period. For example, bachelor apartments increased to $1,216 per month, from the $1,167 per month recorded in the middle portion of 2007, a four per cent rise. Three-bedroom townhouses saw a significant increase, up seven per cent to $1,780 per month from last year’s $1,661 figure.

Central Area

• Most condo apartment leases took place in TREB’s Central area. Of the 2,437 total units rented, 1,397 were onebedroom units averaging $1,568 per month, and another 865 were two-bedroom units that rented for $2,155 per month.
• The 2,437 figure is up nine per cent from the May to August period of 2007, when 2,244 apartment rentals took place. Since no new buildings that are dominated by rental units seem to have gone up, the increase seems largely due to heightened activity.
• In TREB’s Central area there were 89 condominiumtownhouse rentals, with the greatest amount of activity taking place in North York Centre (C14), which had 26 units leased. Most townhouse rentals in the Central area (39) were threebedroon units that rented for an average of $2,664 per month.

Source:  TREB (Toronto Real Estate Board)

ALSO SEE

Toronto Real Estate Rentals Guide:  How to Successfully Lease a Condo.

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503 - 509 Beecroft taken from street level looking up at The Continental condos tower at the corner of Beecroft Rd and Finch Ave., one block west of Yonge St in Toronto’s North York.

Also See Beecroft Road Condos
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