 鲜花( 17)  鸡蛋( 0)
|
Changing GTA Resale Housing Market Reflects Economic Times
: M0 w S- A3 G! J" P$ ]& S# t$ G2 b6 H1 B9 o. G- f
TORONTO, October 17, 2008 - Activity in the Greater Toronto Area resale housing market. [9 D9 c+ F$ R4 k! n3 [
moderated considerably during the first half of October with 2,700 homes changing hands,
, v: O9 q8 B X* [' H c0 DToronto Real Estate Board President Maureen O’Neill announced today.
# l9 Y* f& A7 j0 C5 x0 y3 Z uSales volumes in the GTA decreased 18 per cent compared to the first half of October 2007,/ C. L8 ^# P2 ]; g( ?
when 3,297 transactions were recorded and are down 10 per cent compared to the same period
3 Y! J, G9 k$ H/ a9 \in 2006 when 3,007 sales took place.
9 E+ Z! N8 h; m0 Q7 p6 \6 KIn the City of Toronto 1,140 sales took place in the first half of this month. This represents a 21
; U4 k0 d/ ~6 W9 z9 `per cent decline from the 1,446 sales that took place in the same period a year ago and a 13 per
% F" T. ]2 _. H4 U) \cent decrease from the 1,312 transactions recorded in the first half of October 2006.( T- i3 W' k. J9 L6 d
In the 905 Region there were 1,560 sales in the first two weeks of this month, a 16 per cent
G: u% X3 t9 ]( O8 w" sdecrease from the 1,851 transactions that took place during the same timeframe in 2007 and
6 B/ ?& x; @* x' e( X2 B# q) ddown eight per cent from the 1,695 homes sold during the first half of October 2006.; t' P) L, x6 L% u2 g
House prices declined throughout the GTA during the first half of the month. The average price
! s1 e( i8 k2 j% b zof a GTA home is currently $353,772, down 11 per cent from $399,013 recorded the comparable
4 B* f$ H7 z( Aperiod in 2007.
7 i1 d5 ^2 e! @; y8 vIn the City of Toronto the current average price $375,804, a 15 per cent decrease from the
8 U h% d6 i5 h& T, A E; w D$441,878 average recorded at mid-October 2007.# f% a7 a0 O! \) G0 w+ O+ P1 `8 h
In the 905 Region the average price of a home is currently $337,671. This represents an eight
$ g6 e7 i0 ~. R- U1 Pper cent decline from the $365,527 average recorded during the first half of October 2007.
. w: D1 C4 s A2 Q9 Z- h7 c8 U, kWith 27,559 properties currently listed on the TorontoMLS system, there is now 30 per cent
- W0 U7 M( T9 amore available stock from which to choose as compared to a year ago when 21,182 homes were
% Y/ u- \3 p. vlisted.* m1 `- _- t, r* Y
“More choice can mean slightly longer wait times for sellers whose homes are now on average,7 W4 j: v7 S4 n5 C: D& y* |/ Z
selling after 34 days on the market as compared to 29 days a year ago,” said Ms. O’Neill. “The
# l R+ h6 b2 T; u2 \list to sales ratio is 97 per cent of the list price.” |
|