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Report on last months NewsGTA Resale Housing Sales Up |
In this Issue of my newsletter
Year over year figures are up about 8% on price and 4% on the number of sales, 2011 was a very good year for GTA real estate!
This is the report for latest month in real estate sales from the Toronto real estate board and indicates a 'normal' amount of activity and price levels.
All the best!
Mark
The year end figures for GTA residential home sales were just published. 2011 was the second best year on record with nearly 90,000 sales up about 4% compared to 2010Average price for 2011 was $465,412 up about 8% compared to the 2010 average of $431,276See the full press release below and I will update all my graphs and information on my website at http://www.mississauga4sale.com/TREBprice.htm in the next couple of days.I wish you all the best in 2012!MarkGTA REALTORS® RELEASE MONTHLY RESALE MARKET FIGURES
TORONTO, January 5, 2012 – Greater Toronto REALTORS® reported 4,718 transactions through the TorontoMLS® system in December 2011. The December result capped off the second-best year on record under the current Toronto Real Estate Board (TREB) boundaries. Total sales for 2011 amounted to 89,347 – up four per cent in comparison to 2010.
"Low borrowing costs kept Buyers confident in their ability to comfortably cover their mortgage payments along with other major housing costs," said TREB President Richard Silver. "If Buyers had not been constrained by a shortage of listings over the past 12 months, we would have been flirting with a new sales record in the Greater Toronto Area," added Silver.
The average selling price in December was $451,436 – up four per cent compared to December 2010. For all of 2011, the average selling price was $465,412, an increase of eight per cent in comparison to the average of $431,276 in 2010.
"Months of inventory remained below the pre-recession norm in 2011. Very tight market conditions meant substantial competition between Buyers and strong upward pressure on selling prices," said Jason Mercer, TREB’s Senior Manager of Market Analysis.
"TREB’s baseline forecast for 2012 is for an average price of $485,000, representing a more moderate four per cent annual rate of price growth. This baseline view is subject to a heightened degree of risk given the uncertain global economic outlook," continued Mercer. Summary of TorontoMLS® Sales and Average Price
December 1-31
2011
2010
Sales
Ave. Price
Sales
Ave. Price
City of Toronto "416"
1,948
$474,270
1,818
$463,580
Rest of GTA "905"
2,770
$435,378
2,468
$411,383
GTA
4,718
$451,436
4,286
$433,523
TorontoMLS® Sales & Average Price By Home Type
December 1-31, 2011
Sales
Average . Price
416
905
Total
416
905
Total
Detached
581
1,512
2,093
701,846
525,360
574,351
Yr./Yr. % Change
4%
12%
10%
3%
4%
3%
Semi-Detached
202
289
491
517,152
365,417
427,842
Yr./Yr. % Change
20%
12%
15%
10%
9%
10%
Townhouse
199
517
716
372,164
333,359
344,144
Yr./Yr. % Change
3%
20%
15%
-7%
8%
2%
Condo Apartment
943
363
1,306
351,104
275,173
330,000
Yr./Yr. % Change
7%
-3%
4%
3%
9%
5%
I hope this finds you Happy and Healthy!
All the Best!
Mark
This chart plots the monthly MLS sales for the current year and the previous three years. The recurring seasonal trend can be examined along with comparisons to previous years for each month. Click the chart bellow to see a larger printable version.
This chart plots the monthly MLS average home price for the current year and the previous three years. The recurring seasonal trend can be seen along with comparisons to previous years for each month. You can click the thumbnail below to see a larger printable version. As well, you can see the season trends in graphical form
I hope this finds you Happy and Healthy!
All the Best!
Mark
Housing market indicators from last month
SUMMARY OF SALES AND AVERAGE PRICE 2011 click for larger image
Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 28,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board.
Toronto REALTORS® are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service designed exclusively for REALTORS®. Serving more than 24,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada's largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.
Below is a Graph showing TREB Historical Average Price Data
- The graph below shows a graph of sales price data obtained directly from the Toronto Real Estate Board showing the average selling price of single family homes from 1985 to date in our GTA marketplace.
- Note the historical trends for spring and fall price increases, where spring typically has a larger increase compared to the fall.
- The benchmark for changes in price is chosen to be the average price of homes at the last height of the market, which was $273,698 in 1989.
- If you want the actual values of prices for every month going back to January 1995, I have them, and would be pleased to E-mail them to you upon request.
- See the Average Price Cycles from January 1995 to Date - a very interesting cyclical pattern is clearly seen!
- You may also see the average mortgage interest rates back to 1979
- Send Mark a request for the actual prices of homes since 1995 or you can call Mark now at 905-828-3434
- Read a report showing how much has the price of real estate escalated in the past 25 years!
- Mississauga Lawyer
- This is an in depth analysis of how and if establishing the impact of housing markets on an economy
- Open the graph below in a new separate window
See the Average Price Cycles from January 1995 to Date - a very interesting cyclical pattern is clearly seen!
See how the historical 1 year mortgage interest rate compares to the 5 year rate
- Average Price report for 2010
- Average Price report for 2009
- Average Price report for 2008
- Average Price report for 2007
- Average Price report for 2006
- Average Price report for 2005
- Average Price report for 2004
If the average single family residential price in the GTA continues to increase at 4% per year, the average price would be over $500,000 by 2015 and by 2020 the average price will be over $600,000!
Current Average price for a single family home in the GTA is $427,000
Estimated average price by year 2015 is $525,000!
By 2020 average price estimate is $638,000!
Of course these are only estimates, but it shows that if the current trend continues prices will be well over $600,000 by 2020
When I first made this graph in 2007, the data showed that if Average prices continued to increase from end of 2007 at 4% per year, the average price would be over $475,000 in 6 years ( 2013) Now the data shows $485,000 for 2013!In the beginning of 2007 I made the same graph below and if Average prices continued to increase from 2006 at 4% per year, the average price would be over $460,000 in 7 years ( 2013)
The graph below is one that I made about a year ago and shows how times have changed in 2 years
Breaking down the total Numbers into TREB Areas for this month
Please browse here if you wish to see all the TREB Sales stats for 2007
This graph shows the last real estate recession in the GTA and how long it took to recover from the drop in the average price
This is a graphical representation showing the percentage of homes that sold in each price range.
Note the shift when you compare this month to 2 years ago, quite significant!
What different properties sold for in March of 2011 August 2010 August of 2008
January 2011
Region
Area Sales
Av. Price
East
123
$278,453
West
221
$323,384
Central
88
$432,270
North
93
$375,131
Total
525
$340,275
NOTE: Please note these are preliminary figures. Minor adjustments may be required at month's end.
Latest sales report for November 2010
latest Sales Report - August 26, 2010
555 NOTE: Please note these are preliminary figures. Minor adjustments may be required at month's end.
For comparison purposes, see last year in February below.
Region
Area Sales
Average Price
East
391
$300,867
West
627
$358,062
Central
268
$504,817
North
300
$419,670
Total
1,586
$380,654
NOTE: Please note these are preliminary figures. Minor adjustments may be required at month's end.
* All figures above for Single-Family Dwellings.
Spot sales figures
Last month December 2008 Sales figures
- 993 sales were reported in TREB’s 28 West districts and averaged $338,855
- 473 sales were reported in the 14 Central districts and averaged $479,095
- 491 sales were reported in the 23 North districts and averaged $381,975
- 620 sales were reported in TREB’s 21 East districts and averaged $291,488
- Average Price report for 2010
- Average Price report for 2009
- Average Price report for 2008
- See 2007 year sales figures
- See 2006 year sales figures
- See 2005 year sales figures
- See 2004 year sales figures
Neighbourhood Corner - Mississauga - Each month The Toronto Real Estate Board profiles a neighbourhood and you may read how the market
Mississauga January 2008
There were 647 sales in Mississauga this January, a decline of three per cent over the first month of 2007. The average price came in at $339,655, a one per cent increase over the same time-frame last year. Of these sales, 196 were of detached homes which averaged $516,190, up eight per cent over January '07.
Mississauga 2006
Mississauga (MLS districts W12 to W20) had 608 sales in January, up seven per cent over the figure recorded in January of 2005. These sales averaged $305,464, a two per cent increase over last January. Breaking down the total, there were 201 sales of detached homes, which averaged $448,889; there were 171 sales of condominium apartments, and the average for these was $193,481.
Mississauga 2005
There were 569 sales in the Mississauga area during January, down 12 per cent from the figure recorded in January of 2004. The average price, however, rose seven per cent to $298,503. Breaking down the total, detached homes in Mississauga (203 sales) averaged about $418,655, while semis (121 sales) came in at $279,025.
Neighbourhood Corner January 2004 for Mississauga
The Mississauga area (W-12 through W-20) registered 645 sales in January, down 10 per cent from the 721 recorded during the same time-frame in 2003. However, the overall average in Mississauga came to $277,594, up seven percent over the $259,207 recorded in January of last year. Average days-on-market was 43, about the same as the Board-wide figure of 42.
Neighbourhood Corner Information - Mississauga (from January 2003)
In Mississauga (W-12 to W-20) the latter half of this year saw prices climb 10 per cent to $256,824 over the $233,151 recorded for the whole of 2001. Average Days-on-Market in Mississauga was 34, as compared to a city-wide average of 38 days.
Rental Market indicators in the GTA
This chart shows the breakdown of single family residential sales for last month.
Archived issues of my TREB Market Watch reports
- December 2011
- May 2011
- June 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- July 2010
- January 2010
- December 2009
- November 2009
- September 2009
- May 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- January 2008
- December 2007
- November 2007
- October 2007
- September 2007
- August 2007
- July 2007
- June 2007
- May 2007
- April 2007
- March 2007
- February 2007
- January 2007
- December 2006
- November 2006
- June 2006 issue
- April 2006
- January 2006
- All of 2005
- December 2005
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Mississauga MLS Real Estate Properties & MLS.CA Homes for Sale | Privacy-Policy | Guarantees | All Pages including SiteMap, Mississauga Real Estate Blog all maintained by A. Mark Argentino,
mark@mississauga4sale.com Copyright © A. Mark Argentino, P.Eng., Broker, RE/MAX Realty Specialists Inc., Brokerage, Mississauga, Ontario, Canada L5M 7A1 (905) 828-3434 First created - Tuesday, July 16th, 1996 at 3:48:41 PM -
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