Tag Archives: Market Update

Toronto Real Estate Report: Healthy December Sales = Best Year Ever

Healthy December Sales = Best Year Ever 

January 7, 2008 — A healthy 4,646 sales in December propelled 2007 sales to a record setting 93,193 sales, TREB President Maureen O’Neill announced today. “Year-end sales are up 12 per cent over last year and up 11 per cent over the 84,145 recorded during 2005, the Toronto market’s previous best-ever annual performance.”

On a year-over-year basis, prices rose seven per cent to $376,236 from last year’s $351,941. The annual time-on-market figure stood at 32 days versus 2006’s figure of 34 days, meaning that over the course of the past two years it has taken homes within the GTA barely a month to sell on average.

Breaking down the total, 1,756 sales were reported in TREB’s 28 West districts and averaged $357,711; 1,057 sales were reported in the 14 Central districts and averaged $531,366; 771 sales were reported in the 23 North districts and averaged $420,508; and 1,062 sales were reported in TREB’s 21 East districts and averaged $302,113.

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City of Toronto

The City of Toronto (E-1 to E-11, W-1 to W-10, and C-1 to C-15) recorded 39,052 sales in 2007, up 13 per cent over the 34,404 recorded in the previous year. Prices averaged $415,041, up 10 per cent over 2006.

Source:  TREB (Toronto Real Estate Board)

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Toronto Real Estate, October Sets Records

October Sets New Record

November 5, 2007 — TREB Members recorded 7,915 transactions of single-family homes in October, an all time record for the month, TREB President Maureen O’Neill announced today. “Sales were up 15 per cent over the 6,876 figure recorded in October of 2006, and up about 10 per cent over the 7,227 transactions that took place in October 2003, which was our previous record.”

“There is every indication that 2007 will be a banner year for resale housing activity in the Greater Toronto Area,” said Ms. O’Neill. “The effects of the City of Toronto’s new land transfer tax will definitely be felt in 2008 but we are also confident that consumers will continue to see the value of real estate as a solid long-term investment.”
Prices rose in October, with the average climbing four per cent to $394,646 over September’s $380,132, and up 11 per cent over the $356,423 recorded in October of 2006.
Breaking down the total, 2,964 sales were reported in TREB’s 28 West districts and averaged $367,139; 1,602 sales were reported in the 14 Central districts and averaged $522,800; 1,555 sales were reported in the 23 North districts and averaged $415,071; and 1,794 sales were reported in TREB’s 21 East districts and averaged $307,950.

Source: TREB (Toronto Real Estate Board)

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Toronto Real Estate: July Markets Off to Hot Start

July has started swiftly, with 3,947 sales to date, TREB President Donald Bentley announced today. This mid-month total is up 21 per cent over last July’s 3,251 sales.

“While it is too early to speak of a July record (currently the record is 8,084 sales recorded in 2003), this month should certainly end as one of our best summer performances,” said Mr. Bentley. “And in terms of year-to-date activity (54,457 sales), 2007 is 11 per cent ahead of 2006 (48,961 sales). It is also up 13 per cent over the 2005 figure (47,956 sales), and when 2005 was finished it produced an all time annual sales record.”

While transactions continued at an accelerated pace despite the onset of Summer, price increases remained moderate. At $374,254, the average was up eight per cent over the first half of July 2006. The year-to-date average, at $373,572, was up five per cent over 2006’s figure of $356,207.

Meanwhile, time-on-market came in at 31 days and the list-to-sale price ratio was 98 per cent.

In Oshawa (E16) sales rose 63 per cent over July 2006 due large to a large increase in the number of semi-detached houses sold.

Sales in Rexdale (W10) increased 97 per cent over last year due to a 133 per cent increase in transactions of detached homes.

North York Center (C14) saw a 57 per cent increase in sales based on large increases in both condo apartment and detached home sales.

Sales in Vaughan (N02) were up 68 per cent, with strong increases in almost all house types.

Source: Toronto Real Estate Board

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Toronto Real Estate Up 24 percent Mid June Totals

During the first fifteen days of June, resale home transactions jumped 24 per cent compared to the same time frame a year ago, Toronto Real Estate Board President Dorothy Mason announced. The first half of the month yielded a remarkable 5,074 sales, an increase of 1,000 transactions from last year’s mid-June figures. This total was also 12 per cent higher than the 4,522 sales recorded in the first half of May,which ended as the most active month ever.

“We are going through one of the strongest spring markets ever,”Mrs. Mason said. “There is a lot of momentum carrying over from that and it bodes well as we move into summer.” In Scarborough Centre/Woburn (E09), sales of detached homes doubled as 38 per cent more overall transactions took place compared to mid-June a year ago. Alderwood/Mimico (W06) in Toronto’s west end saw an over all increase in activity of 50 per cent compared to figures from last year. Toronto’s Annex neighbourhood (C02) saw the number of transactions to mid-June increase by 61 per cent compared to 2006.

Outside the city, brisk sales of town homes and detached homes in central Vaughan (N08) led the way as overall transactions increased 53 per cent over the same time frame a year ago. The average price of a resale home at mid-month was $384,576, an increase of seven per cent over the $358,648 recorded during the first half of June 2006. Inventory stood at 23,725 listings, reflecting a good amount of choice and helping to keep price increases under control. “We have strong local and national economies, great value in the marketplace and solid returns on investment,” TREB’s President said. “It’s anexcellent time to be in the market, and savvy consumers are taking advantage of these great conditions.”

Toronto REALTORS(R) are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service. Serving more than 25,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area openhouse listings are now available on http://www.torontorealestateboard.com/

Source: Toronto Real Estate Board

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