Toronto Real Estate Market Report: August 2009 Statistics
September 4th, 2009 Categories: Market Reports, News Wire
Summer’s over! The Toronto Real Estate Board (TREB) has just released the August 2009 numbers for the City of Toronto, as well as the overall Greater Toronto Area (GTA). Let’s take a look at the numbers Toronto buyers and sellers need to know when making informed real estate decisions. If interested, click here for a copy of the complete August 2009 market report.
To the whiteboard!
Toronto MLS
Real Estate Statistics
The City of Toronto (defined as the 416 area code) reported 3,109 sales, an increase of 27.57% compared to the 2,437 sales written last year at this time.
Also in the City of Toronto, the average price in August 2009 was $402,246, a 6.42% increase from the $377,990 average recorded during the same period last year.
The GTA (including the City of Toronto) reported 8,035 transactions for August 2009, up 27.18% from the 6,318 transactions written in the same period last year. The average price was $387,921, representing a 6.31% increase from the $364,886 recorded last year at this time.
For the GTA, inventory was down 37.46% compared to a year ago, from 25,076 to 15,682 properties listed for sale. The sales-to-inventory ratio for the month was approximately 51%, compared to 25% recorded this time last year.
Days On Market (DOM) was reported as 30, compared to 36 days the same time last year. Keep in mind that DOM is specific to the contract, as a property can be re-listed (with a unique MLS number for each re-list) several times before the property is sold.
Toronto Real Estate
Market Observations
The numbers say it all: Sellers, the market is yours.
As such, is it even possible for motivated buyers to successfully navigate the Toronto real estate market maze? Is it a good time to buy? Click here to read all about it!
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.
