 鲜花( 17)  鸡蛋( 0)
|
Changing GTA Resale Housing Market Reflects Economic Times4 @3 d7 M f i
0 H$ ` s/ f2 ?5 m/ jTORONTO, October 17, 2008 - Activity in the Greater Toronto Area resale housing market7 g' G5 r2 l) |8 @3 T6 L
moderated considerably during the first half of October with 2,700 homes changing hands,
3 W5 p* s0 \) wToronto Real Estate Board President Maureen O’Neill announced today.
% j; R2 G8 y* RSales volumes in the GTA decreased 18 per cent compared to the first half of October 2007,
0 S( l, X, C( N/ G" A6 W' z @when 3,297 transactions were recorded and are down 10 per cent compared to the same period$ d7 d; }& D4 R3 q
in 2006 when 3,007 sales took place.
! u! A" F; ]- MIn the City of Toronto 1,140 sales took place in the first half of this month. This represents a 21; R; M: b) U$ j: i% C5 ?
per cent decline from the 1,446 sales that took place in the same period a year ago and a 13 per: Y- @% j2 c- m$ m* `
cent decrease from the 1,312 transactions recorded in the first half of October 2006.5 S; N9 m6 G: K( O
In the 905 Region there were 1,560 sales in the first two weeks of this month, a 16 per cent
$ a' U. Y- d* X% h; t+ M; fdecrease from the 1,851 transactions that took place during the same timeframe in 2007 and# x; G2 t* U/ p3 i) N2 @
down eight per cent from the 1,695 homes sold during the first half of October 2006.
2 `7 c5 s6 {2 K' {! ~, dHouse prices declined throughout the GTA during the first half of the month. The average price
0 Z/ c8 f# Q6 M9 a9 L- _of a GTA home is currently $353,772, down 11 per cent from $399,013 recorded the comparable6 c! H7 g8 G9 S8 P. V7 x" Y
period in 2007.& B. B7 j% z) q
In the City of Toronto the current average price $375,804, a 15 per cent decrease from the
9 F9 o W% X t8 @* ?7 e$441,878 average recorded at mid-October 2007.
5 U- ^1 _+ o" I+ Y' U1 iIn the 905 Region the average price of a home is currently $337,671. This represents an eight
; q* i. ]) e9 W* {; l y. }' k: h' Uper cent decline from the $365,527 average recorded during the first half of October 2007.8 S1 W& @% F! y8 Z
With 27,559 properties currently listed on the TorontoMLS system, there is now 30 per cent
9 J- z M) k1 r# c3 p, g$ U' rmore available stock from which to choose as compared to a year ago when 21,182 homes were
4 P2 J/ v" u) H# b( K" ^ l0 Q4 Rlisted.
! p% O. v! [" V& E1 m Z“More choice can mean slightly longer wait times for sellers whose homes are now on average,! o* x2 {6 {" V" `6 _8 A9 a
selling after 34 days on the market as compared to 29 days a year ago,” said Ms. O’Neill. “The" X7 e2 h- j4 X& @9 ~' f
list to sales ratio is 97 per cent of the list price.” |
|