To the whiteboard!

Toronto MLS
Real Estate Statistics

The City of Toronto (defined as the 416 area code) reported 3,212 sales, an increase of 111% compared to the 1,523 sales written last year at this time.

Also in the City of Toronto, the average price in November 2009 was $450,079, a 15% increase from the $390,225 average recorded during the same period last year.

The GTA (including the City of Toronto) reported 7,446 transactions for November 2009, up 105% from the 3,640 transactions written in the same period last year. The average price was $418,460, representing a 14% increase from the $368,582 recorded last year at this time.

For the GTA, inventory was down 51% compared to a year ago, from 27,037 to 13,827 properties listed for sale. The sales-to-inventory ratio for the month was approximately 54%, compared to 13% recorded this time last year.

Days On Market (DOM) was reported as 26, compared to 41 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

So, sales growth more than doubled this November (year-over-year), and average price recorded a significant increase. And that’s NO surprise as we’re comparing this month’s performance to last year’s oh-so-dismal market. What a difference a year makes!

But we all know the market recovered and as such, it won’t continue to post these double-digit numbers. As we move through the first quarter of 2010, growth rates will cool as comparisons will no longer be made to a declining market. As inventory builds (read: more sellers come into the market), the brakes will go on.

But until then: Sellers, the market is yours. Lack of inventory drives sales and price!

Should buyers stay on the sidelines? Is it 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.

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To the whiteboard!

Toronto MLS
Real Estate Statistics

The City of Toronto (defined as the 416 area code) reported 3,554 sales, an increase of 66% compared to the 2,136 sales written last year at this time.

Also in the City of Toronto, the average price in October 2009 was $464,212, a 23% increase from the $376,897 average recorded during the same period last year.

The GTA (including the City of Toronto) reported 8,476 transactions for October 2009, up 64% from the 5,155 transactions written in the same period last year. The average price was $423,559, representing a 20% increase from the $352,974 recorded last year at this time.

For the GTA, inventory was down 46% compared to a year ago, from 27,277 to 14,771 properties listed for sale. The sales-to-inventory ratio for the month was approximately 57%, compared to 19% recorded this time last year.

Days On Market (DOM) was reported as 26, compared to 37 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

What’s really interesting is that, according to TREB, “strong sales growth has occurred across many property classes — from price ranges that would attract first-time buyers to luxury properties selling for over one million dollars”. And first-time buyers enable the move-up buyers, which enables the really moving-up buyers, and so on.

Same old, same old in that the squeeze on inventory and affordability continues. Sellers, the market continues to be yours. However, there is the anticipation of increased listings in 2010 as home owners come off the sidelines to take advantage of strong sales and prices.

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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To the whiteboard!

Toronto MLS
Real Estate Statistics

The City of Toronto (defined as the 416 area code) reported 3,341 sales, an increase of 31% compared to the 2,546 sales written last year at this time.

Also in the City of Toronto, the average price in September 2009 was $437,182, an 11% increase from the $393,648 average recorded during the same period last year.

The GTA (including the City of Toronto) reported 8,196 transactions for September 2009, up 28% from the 6,424 transactions written in the same period last year. The average price was $406,877, representing a 10% increase from the $368,549 recorded last year at this time.

For the GTA, inventory was down 42% compared to a year ago, from 27,373 to 15,894 properties listed for sale. The sales-to-inventory ratio for the month was approximately 52%, compared to 23% recorded this time last year.

Days On Market (DOM) was reported as 27, 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 squeeze on inventory continues, although the sales-to-inventory ratio has shown a slight improvement (52% this month as compared to 59% in June 2009). Upward pressure on average prices comes as no surprise. Anticipation of a strong finish for the year, sales-wise.

What a difference a year makes.

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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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.

To the whiteboard!

Toronto MLS
Real Estate Statistics

The City of Toronto (defined as the 416 area code) reported 3,880 sales, an increase of 23.88% compared to the 3,132 sales written last year at this time.

Also in the City of Toronto, the average price in July 2009 was $421,110, a 6.52% increase from the $395,343 average recorded during the same period last year.

The GTA (including the City of Toronto) reported 9,967 transactions for July 2009, up 27.68% from the 7,806 transactions written in the same period last year. The average price was $395,414, representing a 6.46% increase from the $371,427 recorded last year at this time.

For the GTA, inventory was down 36.27% compared to a year ago, from 26,543 to 16,915 properties listed for sale. Days On Market (DOM) was reported as 31, compared to 33 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 Toronto real estate market “shelves” are bare. Inventory has been depleted, so it’s no surprise that multiple offers are happening throughout the City of Toronto. The supply and demand scenario (read: little supply, lots of demand) is, of course, putting upward pressure on the average house price.

According to TREB, it’s possible that total sales for 2009 will outpace last year’s transactions. This was not seen as a remote possibility at the beginning of the year when sales dropped off a cliff.

And unless there’s a tsunami of new inventory that hits the market, it appears unlikely that average prices will significantly retract any time soon.

The market is, without a doubt, a challenge for buyers. However, are financially-qualified buyers who continue to sit on the sidelines, jonesing for the return of their short-lived market, going to be in a better position market-wise next year at this time? Will interest rates stay this low forever?

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.

To the whiteboard!

Toronto MLS
Real Estate Statistics

The City of Toronto (defined as the 416 area code) reported 4,362 sales, an increase of 25.31% compared to the 3,481 sales written last year at this time.

Also in the City of Toronto, the average price in June 2009 was $441,703, a 1.99% increase from the $433,082 average recorded during the same period last year.

The GTA (including the City of Toronto) reported 10,955 transactions for June 2009, up 27.38% from the 8,600 transactions written in the same period last year. The average price was $403,972, representing a 2.05% increase from the $395,866 recorded last year at this time.

For the GTA, inventory was down 29.94% compared to a year ago, from 26,697 to 18,704 properties listed for sale. Days On Market (DOM) was reported as 33, compared to 34 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

Best June on record for the GTA. A depletion of available inventory. Multiple offers EVERYWHERE. An increase in average house prices in both the City of Toronto and the GTA. According to TREB, an expectation that sales will remain high relative to listings in the second half of the year. And, of course, interest rates remain low.

Sound familiar? Is this activity the result of pent-up demand, with a pull-back around the autumn corner, or the start of another bullish run? Time will tell, and so will I!

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.

To the whiteboard!

Toronto MLS
Real Estate Statistics

The City of Toronto (defined as the 416 area code) reported 3,777 sales, an increase of 1.78% compared to the 3,711 sales written last year at this time.

Also in the City of Toronto, the average price in May 2009 was $432,478, a 0.41% decline from the $434,271 average recorded during the same period last year.

The GTA (including the City of Toronto) reported 9,589 transactions for May 2009, up 1.89% from the 9,411 transactions written in the same period last year. The average price was $395,609, representing a 0.64% decline from the $398,148 recorded last year at this time.

For the GTA, inventory was down 21.06% compared to a year ago, from 27,267 to 21,524 properties listed for sale. Days On Market (DOM) was reported as 35, compared to 31 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

Buyers have roared back into the market. But don’t read too much into that news. Although the spring market is traditionally the strongest in real estate, you have to take into account that recent performance can be attributed to traditional activity PLUS pent-up demand as many buyers who lost their confidence during last fall’s economic meltdown have rationalized their situation, and made the decision to buy. However, as demand is met, activity may pull back and the roar may fade.

The market continues to benefit from extremely low interest rates.

We are seeing multiple offers throughout Toronto, as buyers compete for fewer properties (yes, supply is depleting as fewer sellers list their properties). And yet this is a great time for sellers to be in the market as buyers are willing to compete and the average price decline is minimal compared to last year at this time, a result of tight resale market conditions.

A little something for everyone in this market, non?

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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To the whiteboard!

Toronto MLS
Real Estate Statistics

The City of Toronto (defined as the 416 area code) reported 3,222 sales, a decline of 7.07% compared to the 3,467 sales written last year at this time.

Also in the City of Toronto, the average price in April 2009 was $421,470, a 5.67% decline from the $446,781 average recorded during the same period last year.

The GTA (including the City of Toronto) reported 8,107 transactions for April 2009, down 7.48% from the 8,762 transactions written in the same period last year. The average price was $385,641, representing a 3.27% decline from the $398,687 recorded last year at this time.

For the GTA, inventory was down 4.14% compared to a year ago, from 24,530 to 23,515 properties listed for sale. Days On Market (DOM) was reported as 37, compared to 27 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

Although April sales are down from the same period last year, there’s down and then there’s REALLY down. According to TREB, the market has gained momentum on a month-over-month basis. The seasonally-adjusted annual rate of sales was up 26% from March, and up two-thirds from January. Nice!!

What’s in the buyer’s favour this month? Interest rates that are at historic lows and house prices that are lower than this time last year.

However, as buyers take advantage of Opportunity, inventory is depleting. New listings are 30.47% less than in April 2008. As the resale market tightens, it’s to be expected that the rate of average price decline eases.

The seller that gets their house on the market this spring may benefit from a possible (POSSIBLE) shift back to a moderate seller’s market.

Oh buyers, are you about to miss your market?

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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To the whiteboard!

Toronto MLS
Real Estate Statistics

The City of Toronto (defined as the 416 area code) reported 2,398 sales, a decline of 5.1% compared to the 2,527 sales written last year at this time.

Also in the City of Toronto, the average price in March 2009 was $387,793, a 4.17% decline from the $404,652 average recorded during the same period last year.

The GTA (including the City of Toronto) reported 6,171 transactions for March 2009, down 6.94% from the 6,631 transactions written in the same period last year. The average price was $362,050, representing a 4.81% decline from the $380,338 recorded last year at this time.

For the GTA, inventory was up 15.14% compared to a year ago, from 20,533 to 23,642 properties listed for sale. Days On Market (DOM) was reported as 40, compared to 30 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 sales and price slide is slowing. In fact, TREB reports this month’s sales decline was the smallest year-over-year decline in the last five months. Nice! As well, the seasonally-adjusted rate of sales indicates an increase greater than what would normally be expected during the higher sales of a spring market.

With plentiful inventory and interest rates that remain at near-record lows, it would appear that buyers are taking advantage of Opportunity.

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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To the whiteboard!

Toronto MLS
Real Estate Statistics

The City of Toronto (defined as the 416 area code) reported 1,653 sales, a decline of 28.44% compared to the 2,310 sales written last year at this time.

Also in the City of Toronto, the average price in February 2009 was $392,919, a 7.43% decline from the $424,435 average recorded during the same period last year.

The GTA (including the City of Toronto) reported 4,120 transactions for February 2009, down 31.5% from the 6,015 transactions written in the same period last year. The average price was $361,305, representing a 5.43% decline from the $382,048 recorded last year at this time.

For the GTA, inventory was up 18.99% compared to a year ago, from 18,018 to 21,440 properties listed for sale. Days On Market (DOM) was reported as 45, compared to 30 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

On a year-over-year basis, sales and price continue to slide. On a month-over-month basis, sales and average price were above the January 2009 levels. Lots of inventory. Interest rates remain low. Interesting activity! Will buyers take advantage of greater affordability in the Toronto real estate market? Buyers that can find their confidence will also find Opportunity.

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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