 鲜花( 17)  鸡蛋( 0)
|
Changing GTA Resale Housing Market Reflects Economic Times5 c* p) c6 ^* T5 v7 z8 y+ ?
0 H6 l2 X) G; N
TORONTO, October 17, 2008 - Activity in the Greater Toronto Area resale housing market
1 o& d" D- f- D' t0 U5 n9 s, Qmoderated considerably during the first half of October with 2,700 homes changing hands,
. Q( @8 s3 L$ E3 q9 v* nToronto Real Estate Board President Maureen O’Neill announced today.
, Z( `# a% ?8 m' R, LSales volumes in the GTA decreased 18 per cent compared to the first half of October 2007,. K2 l F$ O2 D; N
when 3,297 transactions were recorded and are down 10 per cent compared to the same period
( j. h$ b3 V1 j+ e0 H3 ^! D0 Oin 2006 when 3,007 sales took place.9 d$ b4 M: |0 b# N( X4 {
In the City of Toronto 1,140 sales took place in the first half of this month. This represents a 216 o$ _$ u5 l8 M7 W- p- ^8 u# l
per cent decline from the 1,446 sales that took place in the same period a year ago and a 13 per0 g( _$ N/ a6 X. t; { ^) y
cent decrease from the 1,312 transactions recorded in the first half of October 2006.
/ O G q$ m- R, [; f8 f+ W6 hIn the 905 Region there were 1,560 sales in the first two weeks of this month, a 16 per cent& u& }6 ?0 j: N Y* F; e
decrease from the 1,851 transactions that took place during the same timeframe in 2007 and
- @1 G2 [; V! Q. G) T/ r$ k" Jdown eight per cent from the 1,695 homes sold during the first half of October 2006.% S& w) X/ M! a
House prices declined throughout the GTA during the first half of the month. The average price
& H* x4 a4 m/ B6 ? Vof a GTA home is currently $353,772, down 11 per cent from $399,013 recorded the comparable
3 H; O8 e8 {" I! w8 l( zperiod in 2007." K0 [; F' Q. t9 a8 L; b
In the City of Toronto the current average price $375,804, a 15 per cent decrease from the
$ N% l6 M( R9 ^; v' s( J3 o! L$ U$441,878 average recorded at mid-October 2007.
: X+ K/ L5 o! x& n4 |! uIn the 905 Region the average price of a home is currently $337,671. This represents an eight
) n% W \' w* k ]% r2 t$ O7 lper cent decline from the $365,527 average recorded during the first half of October 2007.3 t- y+ }3 p+ d4 A2 X5 W
With 27,559 properties currently listed on the TorontoMLS system, there is now 30 per cent
- X6 a9 u) U2 o( nmore available stock from which to choose as compared to a year ago when 21,182 homes were4 V# | @! R6 V6 S7 q$ }2 S: W
listed.
0 O; y; V2 `* g! O. k" `“More choice can mean slightly longer wait times for sellers whose homes are now on average,
/ o+ n7 Q) R2 I( f3 Lselling after 34 days on the market as compared to 29 days a year ago,” said Ms. O’Neill. “The
# }; S6 y7 @6 H% T5 U5 olist to sales ratio is 97 per cent of the list price.” |
|