 鲜花( 17)  鸡蛋( 0)
|
Changing GTA Resale Housing Market Reflects Economic Times
, r1 z$ W4 i3 S9 `( U4 j; ?7 Z7 e9 v5 b' u
TORONTO, October 17, 2008 - Activity in the Greater Toronto Area resale housing market
$ G' _- V3 O" k- p3 q# ~5 U7 Jmoderated considerably during the first half of October with 2,700 homes changing hands, L& t; \3 ?7 ]; p6 {% F
Toronto Real Estate Board President Maureen O’Neill announced today.8 W) ]$ E2 c: C2 E
Sales volumes in the GTA decreased 18 per cent compared to the first half of October 2007,/ a$ ?' z3 C5 k% w. g
when 3,297 transactions were recorded and are down 10 per cent compared to the same period9 ]8 @) r' Z" `' `1 @( P3 u. N
in 2006 when 3,007 sales took place." ~9 h6 b, t* q" m. T5 z
In the City of Toronto 1,140 sales took place in the first half of this month. This represents a 21: l v$ n, q1 O Q
per cent decline from the 1,446 sales that took place in the same period a year ago and a 13 per
" v' U/ D8 e5 [6 i( f% v1 p0 n& p, Kcent decrease from the 1,312 transactions recorded in the first half of October 2006. T9 \' h) _0 h. N6 o
In the 905 Region there were 1,560 sales in the first two weeks of this month, a 16 per cent
9 R9 j3 n: G7 _. sdecrease from the 1,851 transactions that took place during the same timeframe in 2007 and
; C- z. D4 z4 x* S/ }down eight per cent from the 1,695 homes sold during the first half of October 2006.
7 q B& I# p. P7 SHouse prices declined throughout the GTA during the first half of the month. The average price5 R8 ^! ^# k- C5 M- H
of a GTA home is currently $353,772, down 11 per cent from $399,013 recorded the comparable
7 z' _+ _7 z% j4 ^period in 2007.9 q" v+ z: j6 q z5 v
In the City of Toronto the current average price $375,804, a 15 per cent decrease from the
* s! O2 O6 H/ i# G( Z$441,878 average recorded at mid-October 2007.! `) s) C$ Y l1 c
In the 905 Region the average price of a home is currently $337,671. This represents an eight- u y8 d" Y: k9 A, W+ W i
per cent decline from the $365,527 average recorded during the first half of October 2007.
5 G0 U( t) p) s6 p! j/ MWith 27,559 properties currently listed on the TorontoMLS system, there is now 30 per cent _, E$ n2 z" j4 ?
more available stock from which to choose as compared to a year ago when 21,182 homes were
# _+ w' N& Q9 Y7 u/ B: dlisted.' O1 P: T$ J' M. a: J9 t
“More choice can mean slightly longer wait times for sellers whose homes are now on average,1 W* B, x: u) a) S: H5 i5 Z" p' @
selling after 34 days on the market as compared to 29 days a year ago,” said Ms. O’Neill. “The3 s9 R! Q" _0 a1 \# S
list to sales ratio is 97 per cent of the list price.” |
|