 鲜花( 17)  鸡蛋( 0)
|
Changing GTA Resale Housing Market Reflects Economic Times
& j7 f2 q6 \1 K& s
" X: Q9 ]& w5 C+ E2 ~4 iTORONTO, October 17, 2008 - Activity in the Greater Toronto Area resale housing market8 F( Z9 L5 [. ]) A& @
moderated considerably during the first half of October with 2,700 homes changing hands,
- i; c! m7 v) l# M: B; `! Z$ R* p: `Toronto Real Estate Board President Maureen O’Neill announced today.$ d. {4 W5 p. E) ]# p$ u) y
Sales volumes in the GTA decreased 18 per cent compared to the first half of October 2007,
+ i. q6 _ B& [# a% Owhen 3,297 transactions were recorded and are down 10 per cent compared to the same period; l3 w, }: }) @$ K" Y
in 2006 when 3,007 sales took place.
! i- a8 `5 ] s5 m# V: \In the City of Toronto 1,140 sales took place in the first half of this month. This represents a 21/ ~( A9 q; g8 c+ B6 y
per cent decline from the 1,446 sales that took place in the same period a year ago and a 13 per% `# Z- S% Q0 c) Q. j2 Z# o- y. W
cent decrease from the 1,312 transactions recorded in the first half of October 2006.1 |- D* V$ G; }0 d+ j
In the 905 Region there were 1,560 sales in the first two weeks of this month, a 16 per cent
; u' U1 _8 @2 C* e) m3 M1 P4 i' zdecrease from the 1,851 transactions that took place during the same timeframe in 2007 and
# p7 C1 R; _5 C) W% l _& Wdown eight per cent from the 1,695 homes sold during the first half of October 2006.' \' U/ L5 W- v
House prices declined throughout the GTA during the first half of the month. The average price# d0 U2 y. w% b' `4 r7 N6 ~
of a GTA home is currently $353,772, down 11 per cent from $399,013 recorded the comparable
, R2 F' k: n5 A U3 U& c& m+ Qperiod in 2007.
0 g: y4 |) V( y2 sIn the City of Toronto the current average price $375,804, a 15 per cent decrease from the7 T) s0 r H- X" m
$441,878 average recorded at mid-October 2007.
1 U) K: {( k. V" @. H; KIn the 905 Region the average price of a home is currently $337,671. This represents an eight
2 ?8 E1 ~7 n: r# lper cent decline from the $365,527 average recorded during the first half of October 2007.
& ]9 B, T* @7 ]3 `0 MWith 27,559 properties currently listed on the TorontoMLS system, there is now 30 per cent
+ H7 J: S+ p# e2 I: Vmore available stock from which to choose as compared to a year ago when 21,182 homes were
. `) s# L8 O. j, f* Q: Q4 j! `listed.. d' {7 j, T& u2 z& K9 ~
“More choice can mean slightly longer wait times for sellers whose homes are now on average,
* P3 v/ S5 m0 d7 c% ~2 ?# X' dselling after 34 days on the market as compared to 29 days a year ago,” said Ms. O’Neill. “The/ c1 }) l7 T4 D# \5 y% |, r9 p
list to sales ratio is 97 per cent of the list price.” |
|