Toronto Real Estate Market Performance: September 2008 Mid-Month Statistics

September 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 over time 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 2,726 transactions in the first half of September, down 16% from the same period last year and down 6% from the 2,913 transactions recorded in the first half of September 2006. Virtual Flip Chart For Toronto Real Estate Market

In the City of Toronto (defined as the 416 area code), sales declined 23% compared to a year ago, with 998 transactions written, and declined 11% compared to the 1,118 sales written during the same period two years ago.

Also in the City of Toronto, the average price sits at $386,524, up marginally over mid-September 2007, and up 12% from the $343,561 price recorded in the first half of September 2006.

The list-to-sale price ratio is 98%, the same as it was a year ago.

Inventory is up 26% compared to a year ago, from 20,841 to 26,299 listings. Days On Market (DOM) is reported as 37, compared to 31 days the same time last year.

Toronto Real Estate
Market Activity Summary

Moderate activity. Prices are holding despite moderate activity.

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.

To get this monthly update delivered via email or to your RSS reader, please subscribe.

This entry was posted on Thursday, September 18th, 2008 at 2:30 pm and is filed under Mid-Month Statistics, News Wire. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

urbanestate said at September 19th, 2008 at 1:24 am
sometimes toronto real estate market is in low stage, but still it remain moderate in statistics
realtor in Toronto said at September 19th, 2008 at 4:06 am
First I wanted to write a boring remark about the stats, but your last sentence caught me. Indeed a knowledgeable RE agent is invaluable. Being one I should know But lately I have been seeing some “informed” clients that tend to feel that they know more about doing our job than we do. And most of them even don’t know how these numbers actually work. It is good to have an informed client to whom there is no need to explain everything, but sometimes I don’t understand why they even bother with getting an agent. But to the topic. Thanks for the heads up and numbers, reading those TREB boards gives me a headache.
Julie
David Pylyp said at September 19th, 2008 at 5:27 am
Hello Lauren,
Love your light hearted style of presentation and Kudo’s for your flip chart “girl”.

Keep up the great work!

Cheers
David Pylyp
Gus said at September 19th, 2008 at 8:03 am
Hey,

I live in Dubai now, just sold my house but will be back next year and looking to buy. Love your work, concise, clear, stat driven. Will look you up when I return.

Gus
Alex said at September 19th, 2008 at 10:10 pm
Number of transactions going down,
prices should be the next?
Lauren said at September 20th, 2008 at 11:21 am
@Julie & David: Thanks for stopping by. What can I say … I like numbers and flip charts.

@Gus: Thanks so much, I’m glad you like my articles. Looking forward to your call!

@Alex: Lots of people are waiting to see what happens with prices. I suspect many buyers are anticipating a major correction, but there’s lots of good inventory right now, hope they don’t overwait and miss out on opportunities.