Toronto Real Estate Market Performance: June 2008 Mid-Month Statistics
June 18th, 2008 Categories: Mid-Month Statistics, News Wire
Welcome to my mid-month activity report for the Toronto 2008 real estate market. Brief and to the point, it’s my virtual flip chart of the numbers Toronto buyers and sellers can use to make good real estate decisions. If interested, a more detailed statistical breakdown can be found on the Toronto Real Estate Board (TREB) website.
Let’s get started!
Toronto MLS®
Real Estate Statistics
The Greater Toronto Area (GTA) reported 4,374 transactions in the first half of June, down 14% from the same period last year.
In the City of Toronto (defined as the 416 area code), sales are down 15% compared to a year ago, with 1,733 transactions written. However, it is interesting to note sales increased by 2% over the 1,690 transactions written in the first half of June 2006, a great but NOT record-setting year.
Also in the City of Toronto, the average price is now $439,469, up 3% over mid-June 2007 and up 14% over the average price of $386,960 in mid-June 2006. How much juice is left in the affordability orange?
Inventory is up 17% compared to a year ago. However, there are pockets of strong sales activity throughout the City, so he who hesitates … well, you know the drill.
For example, in Riverdale (E01) transactions increased 28% over last year driven by strong condominium apartment sales. This housing type also drove sales up by 24% over the same period last year in West Agincourt (E05).
Toronto Real Estate
Market Activity Summary
Increase in inventory. Sales not as strong as in 2007 but (interestingly) showing an increase over the same period in 2006. Price continues to appreciate year-over-year.
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