Toronto Real Estate Market Performance: June 2009 Mid-Month Statistics
June 18th, 2009 Categories: Mid-Month Statistics, News Wire
Welcome to my mid-month activity report for the Toronto 2009 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
In the City of Toronto (defined as the 416 area code), sales increased 16.73% compared to a year ago, with 2,023 transactions written.
Also in the City of Toronto, the average price for a home is now $449,946, representing a 2.38% increase from the $439,469 average recorded in mid-June 2008.
The Greater Toronto Area (GTA) reported 5,185 transactions in the first half of June, up 18.54% from the same period last year. The average price was $407,716, representing a 2.3% increase from the $398,542 recorded last year at this time.
Numbers related to inventory and Days On Market (DOM) will be available after month-end in my June 2009 Market Report.
Toronto Real Estate
Market Activity Summary
Both sales and price have climbed. Affordability, due in part to “how low can they go?” interest rates, continues to make it possible for previously-hesitant buyers to return to the market, which in turn strengthens price.
According to TREB the “number of home buyers has been high relative to the number of listings, pushing the average price above last year’s level”.
No Jello In This Market!
Will the month finish strong? Yeah, it’s got legs (for now).
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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With variable rates locked in at multi-decade lows until at least mid 2010, the housing market has a lot of octane behind it. If realtors can vouch that prices are up year over year that will draw in a lot of leery first-timers who further believe that real estate never really goes down. But as we’ve seen in the USA it sure does. Love the mid-month posts!