Toronto Real Estate Market Performance: July 2008 Mid-Month Statistics
July 17th, 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 3,497 transactions in the first half of July, down 11% from the same period last year but up 8% from the 3,251 transactions recorded in the first two weeks of July 2006.
In the City of Toronto (defined as the 416 area code), sales are down 17% compared to a year ago, with 1,369 transactions written. However, it is interesting to note sales increased by 8% over the 1,264 transactions written in the first half of July 2006.
Also in the City of Toronto, the average price is now $419,199, up 1% over mid-July 2007 and up 14% over the average price of $367,541 in mid-July 2006. Quite the squeeze on the affordability orange!
Inventory is up 25% compared to a year ago, from 21,777 to 27,317 listings; however, Days On Market (DOM) is 32, which is the same as last year at this time. Don’t be fooled as this is not an invitation to test the market with an over-priced listing!
Toronto Real Estate
Market Activity Summary
Inventory is on the rise. Price continues to appreciate. Sales activity continues to drop.
Thinking of buying or selling? Numbers are helpful, but a knowledgeable Toronto real estate agent is invaluable. Call Lauren at 416–550–6991, or send me an email.
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[…] I just reported in my mid-month performance report, we now sit with 25% more listings than last year at this time. That translates to 27,317 listings, […]