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Changing GTA Resale Housing Market Reflects Economic Times
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TORONTO, October 17, 2008 - Activity in the Greater Toronto Area resale housing market1 w" k8 b5 V! }/ V# `
moderated considerably during the first half of October with 2,700 homes changing hands,5 H' j. |0 W8 x) U3 o
Toronto Real Estate Board President Maureen O’Neill announced today.
% @5 V1 b- g# S3 s" QSales volumes in the GTA decreased 18 per cent compared to the first half of October 2007,( ?; l1 i4 I6 _2 T* e' M
when 3,297 transactions were recorded and are down 10 per cent compared to the same period
9 r( C. P1 t" [4 e7 y7 n( Y9 Qin 2006 when 3,007 sales took place.
1 r/ U4 Y. X# j7 }, _' |1 P0 RIn the City of Toronto 1,140 sales took place in the first half of this month. This represents a 216 D0 ]5 W9 ]3 S* V2 X; C: N
per cent decline from the 1,446 sales that took place in the same period a year ago and a 13 per6 P9 V* _. U- I- m2 B- v
cent decrease from the 1,312 transactions recorded in the first half of October 2006.6 k4 N* K* n- ^
In the 905 Region there were 1,560 sales in the first two weeks of this month, a 16 per cent1 h+ n+ b; J; ~6 D7 w) ]
decrease from the 1,851 transactions that took place during the same timeframe in 2007 and
- F( v2 `+ t# F' ]/ m8 j* H6 edown eight per cent from the 1,695 homes sold during the first half of October 2006." W( b" C# Z. z8 J% ^ H) `! }
House prices declined throughout the GTA during the first half of the month. The average price5 I. n% o' `+ ^. B0 g* O
of a GTA home is currently $353,772, down 11 per cent from $399,013 recorded the comparable' R% p" b P" n$ _( W6 L5 b' f# l
period in 2007.; G V6 X# b3 o. f+ J
In the City of Toronto the current average price $375,804, a 15 per cent decrease from the
# @# S- y+ m& V$441,878 average recorded at mid-October 2007." N; S: Z! s& i% k1 [) X
In the 905 Region the average price of a home is currently $337,671. This represents an eight
g0 Q3 z0 ?3 m. N6 Zper cent decline from the $365,527 average recorded during the first half of October 2007.
5 J! i5 h ^8 t$ t: A) E% iWith 27,559 properties currently listed on the TorontoMLS system, there is now 30 per cent
4 ~4 K( E( S$ [1 E) @more available stock from which to choose as compared to a year ago when 21,182 homes were$ D# a& L5 u! T- P, _
listed.
, ~* k( _3 A6 r% t' l) `2 g- g( O i" T“More choice can mean slightly longer wait times for sellers whose homes are now on average,' z$ e' n( D$ E; X; O
selling after 34 days on the market as compared to 29 days a year ago,” said Ms. O’Neill. “The1 m3 |$ P- @; i
list to sales ratio is 97 per cent of the list price.” |
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发表于 2008-10-25 13:47
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