Tag Archives: Statistics

Toronto Real Estate Update: January 2008 GTA New Home Market Report

— RealNet Canada Inc. releases the January 2008 GTA New Home Market Report, providing insight into sales activity, index price and remaining inventory of Low Rise and High Rise projects by product type for each Toronto Real Estate Board district.

January 2008 GTA Low Rise New Homes Sales Regain Momentum

There were 1,703 new home sales recorded in January 2008 in the Greater Toronto Area, down 16% from the same time last year. January 2008 Low Rise sales accounted for 60% (1,019) of the new home sales activity in the GTA, with an increase of sales of 10% from the previous month and a decline of 26% from the same month last year. According to the RealNet New Home Price Index the average asking price of a new Low Rise home increased by 8.2% within the last 12 months. January 2008 High Rise sales totaled 684 units sold, down 31% over the previous month and up 3% compared to the same time last year. Similar to Low Rise, the average asking price of a condominium unit increased by 11.1% since January 2007. 
 
 
 

Source: TREB (Toronto Real Estate Board)

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Toronto Real Estate Board reports sales near 3,000 at mid-month

February 20, 2008 — Resale home transactions in the Greater Toronto Area declined in the first two weeks of February, Toronto Real Estate Board President Maureen O’Neill announced today.

The first half of the month yielded 2,775 transactions, down 14 per cent from the 3,240 sales recorded in the same timeframe last year. The moderation in sales was more pronounced within the City of Toronto–down 18 per cent to 1,066 from last February’s 1,308—than in the 905 suburbs, which saw transactions off 11 per cent.

“It’s important to recognize that the mid-month report provides an indication of market conditions based on a very brief period,” said Ms. O’Neill.

“However, we believe the harsh winter weather we’ve experienced in the early part of the month has had a negative impact on both sales and inventory levels. If you can’t get buyers out to your open house, then you are less inclined to list. And fewer listings means less appealing product for the potential home-buyer. It’s a compound effect.”

Although sales eased, several positive factors were also noted. At $385,735, the average price in the GTA rose seven per cent compared to $358,533 recorded in mid-February 2007. Within the City of Toronto, the average rose 11 per cent to $434,657, although pockets within the East end (Agincourt, for example) rose at the more affordable pace of around five per cent. As well, properties are remaining on the market fewer days.

The average number of days on market is currently 31 versus 35 days at the same time last year.

Furthermore, a few neighborhoods both within and outside of the 416 area code saw increased sales over the first half of February, 2007.

In Ajax (E14) sales were up 11 per cent compared to mid-February 2007, based mainly on an increase in detached home sales.

In the West region, the W3 (York South) district saw a 41 per cent increase in transactions, driven by strong sales of semi-detached homes.

Central Richmond Hill (N04) also experienced a notable increase in sales compared to the same timeframe last year. Transactions were up 21 per cent, primarily due to an increase in attached row sales.

“We are optimistic that we will see a strong spring market because the economic fundamentals remain in place,” said Ms. O’Neill. “Prices are still particularly affordable in Toronto’s East end.”

Source:  TREB (Toronto Real Estate Board)

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Toronto Real Estate MLS Statistics January 2008

Below is a look at Toronto’s real estate statistics for January 2008.  The information is taken directly from the Toronto Real Estate Board.  The new year has started of strong.  If you are considering buying or selling a home in Toronto, be sure to e-mail me to get these graphs broken down to the street you are buying or selling on.

Average Days On Market

 January Toronto days on market graph

The Average Days on the Market in January was 35.60 Down from Decembers 37.11

Number of Units Sold 

 January Toronto units sold graph

The number of units sold in January was 5211 up from Decembers 4799.

Average Sold to Asking Price Ratio

January Asked to selling ratio graph

Januarys selling price to asking price ratio was 98.09 % up from Decembers 97.99 %.

Median Selling Price

 January Median selling price graph

Januarys median selling price was $321,000.00, Down from Decembers $325,000.00

Average Selling Price

January average selling price graph

Januarys average selling price was $377,368.00 Down from Decembers $401, 432.00.

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Toronto Real Estate Market Report: New Year Off To Good Start

New Year Off To Good Start

February 5, 2008 — A strong performance within TREB’s Central districts drove the Toronto area real estate market to a healthy 5,073 sales in January, off just two per cent from last year’s record performance, President Maureen O’Neill announced today.

“While sales were strong, price increases remained modest, with the average rising six per cent to $374,449,” said Ms. O’Neill. “There is clearly still a place for the first-time buyer in today’s resale market.”

Breaking down the total, 1,940 sales were reported in TREB’s 28 West districts and averaged $351,594; 945 sales were reported in the 14 Central districts and averaged $485,259; 966 sales were reported in the 23 North districts and averaged $410,289; and 1,224 sales were reported in TREB’s 21 East districts and averaged $296,838.

Source: TREB (Toronto Real Estate Board)

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Toronto Real Estate Statistics: A Year in Review

This the 2007 year in review for the Toronto Real Estate Market.  All information below is taken directly from the Toronto Real Estate Board.  2007 was a year in which every month, so it was no real shock when the boards statistics came out showing it as the best year ever.  The below statistics are broken down into Average Price, Average Days on Market and Units Sold.  If you would like this information broken down into your postal code, MLS district or even to your street, please feel free to call or e-mail me.

Average Days on Market

Shown on the Graph below you can see that the Average Days on Market increased in December to 36.97, and the yearly average was 32.74 Days on the Market.

 december-toronto-Daysonmarket

Units Sold

As expected with the Holiday season the number of units sold in December droped to 4692 giving a total of 100,981 units sold in 2007

 december-toronto-Unitssold

Average Selling Price 

The December average selling price was the highest for 2007 at $401,905.00 and the overall yearly average was $381,011.29

 december-toronto-Averageprice

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Toronto Real Estate: Two New Records Set In First Two Weeks of December!

Toronto Real Estate:  Two New Records Set In First Two Weeks of December!

December 19, 2007 — The Greater Toronto resale home market reached two new heights during the first half of this month Toronto Real Estate Board President Maureen O’Neill announced today.

“The 2,868 transactions recorded during the first two weeks of December have made this the first year that sales have exceeded 90,000,” said Ms. O’Neill.

This activity also represents a 3 per cent increase over the 2,783 sales recorded during the first two weeks of December 2006.

This year’s record activity has been matched by record prices.

“The average price is now $404,707, which is the first time it has exceeded $400,000,” said Ms. O’Neill.

The current average price has increased 3 per cent since last month and 19 per cent compared to the same time frame a year ago.

In the Danforth area (E03) transactions are up 24 per cent compared to mid-December 2006, as a result of strong semi-detached sales.

New Toronto transactions (W06) are up 43 per cent compared to the same timeframe a year ago, as a result of strong condominium apartment sales.

Condominium apartment transactions Downtown (C01) also pushed overall sales in that area up 28 per cent compared to the first half of December 2006.

In North York (C14) detached home transactions led to an overall sales increase of 34 per cent in the area compared to mid-December 2006.

“The two new precedents set in the last two weeks is certainly positive news, said Ms. O’Neill. It’s shaping up to be a busy holiday season for homebuyers and sellers alike.”

Source: TREB (Toronto Real Estate Board)

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Toronto Real Estate Market: On Track for a Record-Breaking Year!

Toronto Real Estate Board on Track for a Record-Breaking Year!

December 5, 2007 — Last month became the best November on record with 7,313 resale home transactions in the Greater Toronto Area, Toronto Real Estate Board President Maureen O’Neill announced today.

“I recently reported that 2007 became the best year ever for resale transactions in the Greater Toronto Area with six weeks left to go,” said Ms. O’Neill. Even more astonishing though, is the fact that eight of the 11 months so far this year set new monthly records. No other year has shown as many record-breaking monthly performances.”

Sales were up 16 per cent in November compared to the same timeframe last year.

At $393,757, November’s average price increased 11 per cent as compared to a year ago and remained in line with the previous month.

Some of the most significant activity in November took place in the 416 area code.

Based on strong sales in all housing types, Riverdale (E01) saw a 56 per cent increase in transactions compared to November 2006.

In the Islington/Kingsway (W08), sales rose 55 per cent over last November, driven primarily by an increase in detached home sales.

In Willowdale (C07), transactions nearly doubled compared to the same timeframe a year ago, driven by strong condominium apartment and detached home sales.

In the West part of Markham (N01), strong detached home sales led to an overall increase of 86 per cent compared to November 2006.

“We expect 2007 to be the first year ever to exceed 90,000 transactions, said Ms O’Neill. These numbers reflect the fact that people who live in the Greater Toronto Area see real estate as an excellent long-term investment.”

Source: TREB (Toronto Real Estate Board)

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Toronto Real Estate Market: Best November Ever, Best Year Ever!

Best November Ever, Best Year Ever!

December 5, 2007 — A record-breaking November saw 7,313 sales, driving year-to-date totals to 88,695 sales, TREB President Maureen O’Neill announced today. “We have already exceeded the 84,145 sales recorded during 2005, which was our previous record,” said the President. “By the end of December we will have crossed the 90,000 sales mark for the very first time. As 2007 winds down, the GTA resale home market is looking as healthy as it has ever been.”

Prices were almost unchanged in November, with the average at $393,747, down marginally from the $394,646 recorded in the previous month. It was up 11 per cent over the $355,727 recorded during November 2006. Meanwhile, days-on-market came in at 32, and the list-to-sale price ratio was 98 per cent.

Breaking down the total, 2,725 sales were reported in TREB’s 28 West districts and averaged $362,272; 1,529 sales were reported in the 14 Central districts and averaged $519,841; 1,354 sales were reported in the 23 North districts and averaged $417,967; and 1,705 sales were reported in TREB’s 21 East districts and averaged $311,738.

Source: TREB (Toronto Real Estate Board)

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Toronto Real Estate: Best Year Ever with Six Weeks To Go!

November 19, 2007 — November 19, 2007 — With six weeks remaining, 2007 has already become the best year on record for resale homes in the Greater Toronto Area, Toronto Real Estate Board President Maureen O’Neill announced today.

“As I predicted last month, 2007 will indeed be a banner year for home sales in our city,” said Ms. O’Neill. “So far this year, 84,994 properties have changed hands, as compared to 84,145 sales in 2005, our previous best year.”

With 3,544 transactions to mid-month, November sales are also up five per cent compared the same timeframe last year.

The current average price is $393,084, a nine per cent increase over the first half of November 2006.

The year-to-date average price stands at $374,678, up six per cent over the $352,807 recorded during the first 111?2 months of 2006.

“All of the economic conditions remain in place for a strong housing market in the GTA. The unemployment rate fell by approximately half a per cent last month, Statistics Canada anticipates sustained immigration throughout the next decade and mortgage rates remain historically low,” said Ms. O’Neill. “Toronto is a very vibrant city in which to live and compared to other urban centres like New York, Los Angeles and London, our housing is very affordable.”

Source: TREB (Toronto Real Estate Board)

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Toronto Real Estate: October Pushes Up Banner Year To Date

November 5, 2007 — Greater Toronto Area resale housing activity set a new record for the month of October TREB President Maureen O’Neill reported today.

With 7,915 transactions, activity was up 10 per cent over the previous best for the month, set in 2003. Sales were also up 15 per cent over last October.

October’s strong performance has pushed year-to-date activity 12 per cent ahead of last year.
“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 also rose in October to an average of $394,646, a four per cent increase over the previous month.

In Pickering (E13), overall activity was up 34 per cent, led by strong detached sales and a doubling of condominium apartment transactions.

Willowdale (C07) experienced the same combination of strong detached sales and sizeable condominium apartment transactions, which led to a 67 per cent increase in overall sales.
Condominium apartment sales also pushed the South Humber area (W07) to a 60 per cent overall increase in activity.

In Central Richmond Hill (N04), a combination of detached sales and attached/row-house sales, contributed to an overall increase of 54 per cent.

Source: TREB (Toronto Real Estate Board)

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