 鲜花( 17)  鸡蛋( 0)
|
Changing GTA Resale Housing Market Reflects Economic Times
. k) M0 F/ L+ Q' E7 b& n x
; I/ b c- S7 j" ~' q) ~TORONTO, October 17, 2008 - Activity in the Greater Toronto Area resale housing market
* g- J1 x1 u7 \! H+ \2 a$ mmoderated considerably during the first half of October with 2,700 homes changing hands,! [) X6 `0 R G1 A1 a7 g& {( f+ {% [
Toronto Real Estate Board President Maureen O’Neill announced today.7 h0 t; ^2 O' X0 F6 B
Sales volumes in the GTA decreased 18 per cent compared to the first half of October 2007,
; @* d3 m, r' i, r' \4 Gwhen 3,297 transactions were recorded and are down 10 per cent compared to the same period; e7 J r6 p3 L; D9 ]/ X; A6 B) s
in 2006 when 3,007 sales took place.
& C" {/ E4 K$ [2 Z$ v$ J6 s* z% hIn the City of Toronto 1,140 sales took place in the first half of this month. This represents a 21" ~" m2 B6 l; K) A: n5 r9 _% n5 H
per cent decline from the 1,446 sales that took place in the same period a year ago and a 13 per
+ @3 W/ {" n4 \( \) n/ [7 @( Ncent decrease from the 1,312 transactions recorded in the first half of October 2006./ A! \8 u, _0 L* J! H/ L
In the 905 Region there were 1,560 sales in the first two weeks of this month, a 16 per cent( W6 i3 `' e% b5 W3 k! d+ ^7 c @& ?
decrease from the 1,851 transactions that took place during the same timeframe in 2007 and0 X" W/ R2 r9 e) A$ W7 F- e
down eight per cent from the 1,695 homes sold during the first half of October 2006.5 Z% J F: `& u( _
House prices declined throughout the GTA during the first half of the month. The average price8 N7 q8 Q& r# Y4 J# A5 d/ x
of a GTA home is currently $353,772, down 11 per cent from $399,013 recorded the comparable
$ Q+ ~. ^" Q1 ]( Aperiod in 2007.
0 M1 `9 _: V5 V7 |: \In the City of Toronto the current average price $375,804, a 15 per cent decrease from the
$ ?7 Q1 p& q! ~: z# K$441,878 average recorded at mid-October 2007.
z: o. r6 @0 xIn the 905 Region the average price of a home is currently $337,671. This represents an eight1 k) z# n2 `8 W* e, }% ^( L; H
per cent decline from the $365,527 average recorded during the first half of October 2007.
_; J1 l" Y/ z& X+ yWith 27,559 properties currently listed on the TorontoMLS system, there is now 30 per cent
; E+ u4 E! ] D* P4 j, A4 |* Pmore available stock from which to choose as compared to a year ago when 21,182 homes were" `4 Z. L* p9 ^$ E: j
listed.4 G8 Z! c8 {5 P
“More choice can mean slightly longer wait times for sellers whose homes are now on average,
K3 ~ X% q' j& tselling after 34 days on the market as compared to 29 days a year ago,” said Ms. O’Neill. “The& A0 q1 W- z8 z' V* H
list to sales ratio is 97 per cent of the list price.” |
|