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Changing GTA Resale Housing Market Reflects Economic Times
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3 E3 }% \% ~8 B" o4 i* T' {TORONTO, October 17, 2008 - Activity in the Greater Toronto Area resale housing market+ u3 N& ~( _/ }1 `
moderated considerably during the first half of October with 2,700 homes changing hands,$ [' ?% {6 C# c1 v! G8 e' s7 a
Toronto Real Estate Board President Maureen O’Neill announced today.
. l% ?5 e/ a3 w: P& ASales volumes in the GTA decreased 18 per cent compared to the first half of October 2007,) j8 g) y) R! } }5 p# _3 Y
when 3,297 transactions were recorded and are down 10 per cent compared to the same period
; Z/ S/ L3 v2 X; Z/ @8 f) w |$ ]in 2006 when 3,007 sales took place. M$ K4 [, b4 `4 }" |
In the City of Toronto 1,140 sales took place in the first half of this month. This represents a 21
5 R) d: H6 ^0 C7 @per cent decline from the 1,446 sales that took place in the same period a year ago and a 13 per
$ V* I9 x' _: Xcent decrease from the 1,312 transactions recorded in the first half of October 2006.1 H1 q; ?$ s- ]) h
In the 905 Region there were 1,560 sales in the first two weeks of this month, a 16 per cent
: D9 w' O% I& i' l& Mdecrease from the 1,851 transactions that took place during the same timeframe in 2007 and
$ s$ @9 j) `1 f# gdown eight per cent from the 1,695 homes sold during the first half of October 2006.
; ^+ C/ a( l5 l3 r6 \ [House prices declined throughout the GTA during the first half of the month. The average price& o9 W8 T& V4 ~
of a GTA home is currently $353,772, down 11 per cent from $399,013 recorded the comparable
0 ~$ j$ b! s" T1 x1 G% Pperiod in 2007.+ }! O; _; |+ u* b8 y
In the City of Toronto the current average price $375,804, a 15 per cent decrease from the
4 {6 N( x" x) S$441,878 average recorded at mid-October 2007.6 o, E( g7 w7 L" J* `
In the 905 Region the average price of a home is currently $337,671. This represents an eight
5 h* i4 g2 R4 q4 w, Z, |per cent decline from the $365,527 average recorded during the first half of October 2007.
& p& ?- N- ~0 g, C+ UWith 27,559 properties currently listed on the TorontoMLS system, there is now 30 per cent
& y+ S; |3 P: ]% e- ~more available stock from which to choose as compared to a year ago when 21,182 homes were
5 ?# u( ]$ a* O# R2 klisted.
4 b! i* h R% C“More choice can mean slightly longer wait times for sellers whose homes are now on average,, o& }4 t, P: U" K
selling after 34 days on the market as compared to 29 days a year ago,” said Ms. O’Neill. “The
2 ]* S7 S4 p0 V! Blist 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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