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Toronto MLS
Real Estate Statistics

In the City of Toronto (defined as the 416 area code), sales increased 117% compared to a year ago, with 1,343 transactions written.

Also in the City of Toronto, the average price was $460,828, representing a 20% increase from the $382,759 average recorded in mid-December 2008.

The Greater Toronto Area (GTA) reported 3,079 transactions in the first half of December, up 107% from the same period last year. The average price was $423,103, representing a 17% increase from the $360,652 recorded last year at this time.

Numbers related to inventory and Days On Market (DOM) will be available after month-end in my December 2009 Market Report.

Toronto Real Estate
Market Activity Summary

Once again, big jumps in both sales and average price year-over-year. Once again, no surprises. As reported by TREB, “we are comparing the recovery phase of the sales cycle this December with the contraction phase experienced last winter”.

So what’s ahead? Look for price growth relief in the spring as listings increase. However, a few new jolts to the market may be ahead as the Canadian government, concerned about increasing debt levels and the possibility of an over-heated housing market, MAY require higher mortgage downpayments as well as shorten the amortization period.

First-time home buyers, move-up sellers: It’s all about strategy and informed decisions in the Toronto real estate market. And, if it works for you, taking advantage of a favourable market that might, just might, be slipping away.

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 3,212 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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Toronto MLS
Real Estate Statistics

In the City of Toronto (defined as the 416 area code), sales increased 88% compared to a year ago, with 1,560 transactions written.

Also in the City of Toronto, the average price was $441,893, representing a 10% increase from the $400,305 average recorded in mid-November 2008.

The Greater Toronto Area (GTA) reported 3,666 transactions in the first half of November, up 84% from the same period last year. The average price was $415,066, representing a 10% increase from the $375,712 recorded last year at this time.

Numbers related to inventory and Days On Market (DOM) will be available after month-end in my November 2009 Market Report.

Toronto Real Estate
Market Activity Summary

Once again, big jumps in both sales and average price year-over-year. And that’s no surprise as we continue to make comparisons to market activity that occurred during a time when sales and average price experienced significant declines due to extreme market conditions.

Although TREB is projecting that sales and average price this winter will be above the numbers reported in the fourth quarter of 2008 and the first quarter of 2009, these increases can’t continue forever. Next year’s market is going to be very, very interesting.

Would-be sellers, today’s market is hot. Today’s. Don’t 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 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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Toronto MLS
Real Estate Statistics

In the City of Toronto (defined as the 416 area code), sales increased 31% compared to a year ago, with 1,489 transactions written.

Also in the City of Toronto, the average price for a home is now $455,001, representing a 21% increase from the $375,804 average recorded in mid-October 2008.

The Greater Toronto Area (GTA) reported 3,631 transactions in the first half of October, up 34% from the same period last year. The average price was $414,479, representing a 17% increase from the $353,772 recorded last year at this time.

Numbers related to inventory and Days On Market (DOM) will be available after month-end in my October 2009 Market Report.

Toronto Real Estate
Market Activity Summary

Big jumps in both sales and average price year-over-year. But that comes as no surprise as we’re now comparing market performance against the fall of 2008 (read: factor in the hit the markets took due to the collapse of major investment institutions, etc.).

Nonetheless, the market’s got legs as we enter the fourth quarter as demand remains strong which continues to exert upward pressure on average price.

We await Tuesday’s rate announcement, but anticipate the Bank of Canada will keep interest rates steady (read: no rate hikes in the near future).

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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Toronto MLS
Real Estate Statistics

In the City of Toronto (defined as the 416 area code), sales increased 28.26% compared to a year ago, with 1,280 transactions written.

Also in the City of Toronto, the average price for a home is now $415,126, representing a 7.4% increase from the $386,524 average recorded in mid-September 2008.

The Greater Toronto Area (GTA) reported 3,361 transactions in the first half of September, up 23.29% from the same period last year. The average price was $393,818, representing a 7.55% increase from the $366,158 recorded last year at this time.

Numbers related to inventory and Days On Market (DOM) will be available after month-end in my September 2009 Market Report.

Toronto Real Estate
Market Activity Summary

Buyer confidence remains strong. Why? Low interest rates and positive reports pointing to economic recovery. Also, marking the one-year anniversary of the collapse of major investment institutions is certainly a psychological milestone. 

Tight market conditions (read: little supply, lots of demand) continue to push average price increases.

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.

Let’s get started!

Toronto MLS
Real Estate Statistics

In the City of Toronto (defined as the 416 area code), sales increased 22.9% compared to a year ago, with 1,465 transactions written.

Also in the City of Toronto, the average price for a home is now $391,252, representing a slight 0.84% decrease from the $394,563 average recorded in mid-August 2008.

The Greater Toronto Area (GTA) reported 3,832 transactions in the first half of August, up 26.93% from the same period last year. The average price was $383,796, representing a 2.66% increase from the $373,844 recorded last year at this time.

Numbers related to inventory and Days On Market (DOM) will be available after month-end in my August 2009 Market Report.

Toronto Real Estate
Market Activity Summary

Buyer confidence rules the market. Sales are UP. Average price is holding its own. According to TREB, “demand will contribute to broader economic recovery as each transaction results in substantial spin-off benefits to other sectors of the economy”. Nice!

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 3,880 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.