 鲜花( 17)  鸡蛋( 0)
|
Changing GTA Resale Housing Market Reflects Economic Times6 J9 r0 g, D, w* o9 R& ^ l8 j
/ S8 {& d( ?- W! ?' Y
TORONTO, October 17, 2008 - Activity in the Greater Toronto Area resale housing market
# Q& G/ T ^- f6 ^1 ^2 zmoderated considerably during the first half of October with 2,700 homes changing hands,$ E0 W7 k! O- y; U; z
Toronto Real Estate Board President Maureen O’Neill announced today.
& ?) A3 i/ j) v# x5 k# k, ~! tSales volumes in the GTA decreased 18 per cent compared to the first half of October 2007,
+ J* L4 T% I! i" h" Pwhen 3,297 transactions were recorded and are down 10 per cent compared to the same period
' a W7 F; |( ?$ L# pin 2006 when 3,007 sales took place.$ e; ]6 T8 c9 @
In the City of Toronto 1,140 sales took place in the first half of this month. This represents a 21
4 ]' P; ^% O0 o8 k3 v ~per cent decline from the 1,446 sales that took place in the same period a year ago and a 13 per
. i1 B& f4 A {4 ~, V. qcent decrease from the 1,312 transactions recorded in the first half of October 2006.
. @) [ N: f8 U# H! S1 wIn the 905 Region there were 1,560 sales in the first two weeks of this month, a 16 per cent
. H) Z! P/ b" t9 Q# Xdecrease from the 1,851 transactions that took place during the same timeframe in 2007 and
9 M5 j/ z' A9 L+ J6 ^, ?down eight per cent from the 1,695 homes sold during the first half of October 2006.
7 p1 d: e( [* B: k( eHouse prices declined throughout the GTA during the first half of the month. The average price
; e2 Z1 P; N+ |- ^of a GTA home is currently $353,772, down 11 per cent from $399,013 recorded the comparable4 f. w1 g" \0 d5 l8 |
period in 2007.) ^9 m* {6 c" o A% j# R
In the City of Toronto the current average price $375,804, a 15 per cent decrease from the
/ T1 H4 j8 f6 p2 h$441,878 average recorded at mid-October 2007.
$ A' o+ Z2 p& wIn the 905 Region the average price of a home is currently $337,671. This represents an eight
4 c3 Z; @0 i V: T. y8 Kper cent decline from the $365,527 average recorded during the first half of October 2007.
+ A V6 f: `! D6 \" j7 I' ~8 ~With 27,559 properties currently listed on the TorontoMLS system, there is now 30 per cent5 Q7 R9 M- B. M: A9 ]7 S C/ r( {
more available stock from which to choose as compared to a year ago when 21,182 homes were
# V8 e$ n2 p) \$ M7 K W$ j+ Llisted.# y( c7 [! B- x
“More choice can mean slightly longer wait times for sellers whose homes are now on average,) D4 F( c4 e/ l% \) g
selling after 34 days on the market as compared to 29 days a year ago,” said Ms. O’Neill. “The
, ?' Y+ v, `3 U- k1 x6 }' f& dlist to sales ratio is 97 per cent of the list price.” |
|