 鲜花( 17)  鸡蛋( 0)
|
Changing GTA Resale Housing Market Reflects Economic Times
& Z/ P! I; n1 F$ D! {' R1 j" }1 I3 ? ]7 j6 @
TORONTO, October 17, 2008 - Activity in the Greater Toronto Area resale housing market2 A/ M0 |0 f/ D3 m
moderated considerably during the first half of October with 2,700 homes changing hands,+ A; K6 L" \! U- G# b
Toronto Real Estate Board President Maureen O’Neill announced today.. L+ r9 m5 R: a$ N6 c$ @2 T
Sales volumes in the GTA decreased 18 per cent compared to the first half of October 2007,
& e$ }3 ]/ w6 Z5 Xwhen 3,297 transactions were recorded and are down 10 per cent compared to the same period! U2 K. Q$ H# E/ i! z5 a5 }
in 2006 when 3,007 sales took place.; s8 {9 K- ~- {" T' `( T
In the City of Toronto 1,140 sales took place in the first half of this month. This represents a 21: ^5 r5 u+ t+ F& M6 f+ F
per cent decline from the 1,446 sales that took place in the same period a year ago and a 13 per
5 H* M1 f, H0 V9 _ @cent decrease from the 1,312 transactions recorded in the first half of October 2006.
+ L8 a" `& \9 O/ u8 d/ y: Y2 B' KIn the 905 Region there were 1,560 sales in the first two weeks of this month, a 16 per cent
7 Y( I- K4 P" v7 Ydecrease from the 1,851 transactions that took place during the same timeframe in 2007 and7 M" S& D$ A. h7 r5 S
down eight per cent from the 1,695 homes sold during the first half of October 2006.
* M. j! f! M: nHouse prices declined throughout the GTA during the first half of the month. The average price
/ a$ M t4 E( {9 J s1 c7 Lof a GTA home is currently $353,772, down 11 per cent from $399,013 recorded the comparable
# W6 |" Y/ D% M& d8 z2 dperiod in 2007.
( P- {% H- h% [In the City of Toronto the current average price $375,804, a 15 per cent decrease from the
5 T% R: m- D& X# I! a4 @$441,878 average recorded at mid-October 2007.# A7 T! B4 _2 C3 v3 q& l9 I
In the 905 Region the average price of a home is currently $337,671. This represents an eight( j* D( F. j3 h9 O; }& ~
per cent decline from the $365,527 average recorded during the first half of October 2007.
# a/ U1 K4 L7 [" }) B( iWith 27,559 properties currently listed on the TorontoMLS system, there is now 30 per cent M, Q" o7 L; r0 w
more available stock from which to choose as compared to a year ago when 21,182 homes were. t! ~9 a8 A7 q) ^& O
listed.* i3 w! a: C8 ?( w8 B6 K6 ]* @
“More choice can mean slightly longer wait times for sellers whose homes are now on average,
3 j. b5 b+ @6 w! F4 ^9 |selling after 34 days on the market as compared to 29 days a year ago,” said Ms. O’Neill. “The
& U2 h$ _- J1 h* R+ Y7 zlist to sales ratio is 97 per cent of the list price.” |
|