August 6, 2008 -- TREB Members reported 7,806 sales of single-family dwellings in July, continuing a healthy but not record setting pace into the summer. “Even though GTA sales were down 12 per cent from the best-ever July 2007 figure of 8,912, sales were up 10 per cent from July 2006 (7,082),” said TREB President Maureen O’Neill.
July 2007 saw a 26 per cent increase in sales over the 7,082 recorded in July 2006. Furthermore, the sales decrease in July 2008 from July of 2007 was distributed unevenly across the GTA. Within the City of Toronto, the 3,132 sales recorded in July 2008 is down 14 per cent from last July’s 3,640 figure but up 10 per cent from the 2,852 sales recorded in July 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
In the 905 suburbs sales declined 11 per cent, to 4,674 in July 2008 from 5,272 last July, but increased 10 per cent from the 4,230 sales recorded in July 2006. Sales from July 2007 increased 25 per cent over July 2006.
Overall, the GTA average price rose just over one per cent in July 2008 over July 2007 to $371,427 from $366,012, and a nine per cent increase from $342,034 recorded during July 2006.
Once again, price movements differed depending on the part of the GTA involved.
Within City of Toronto boundaries, the increase was marginal (under one per cent) to $395,342 in July 2008 from $395,044 in July 2007 and up 10 per cent from the $360,409 recorded during July 2006.
In the 905 municipalities surrounding the City of Toronto, however, the average price climbed almost three per cent to $355,401 in July 2008 from the July 2007 figure of $345,967 and up eight per cent from $329,644 recorded during July 2006.
Breaking down the total, 3,045 sales were reported in TREB’s 28 West districts and averaged $352,956; 1,349 sales were reported in the 14 Central districts and averaged $467,743; 1,519 sales were reported in the 23 North districts and averaged $408,815; and 1,893 sales were reported in TREB’s 21 East districts and averaged $301,658.
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GTA Resale Housing Stable in July
TORONTO, August 6, 2008 -- With 7,806 transactions recorded last month, the Greater Toronto Area (GTA) resale housing market continued at a moderate pace in July, Toronto Real Estate Board (TREB) President Maureen O’Neill announced today.
Prices remained stable throughout the GTA in July. At $371,427 the average price increased slightly more than one per cent from $366,012 recorded in July 2007 and nine per cent from the $342,034 figure of two years ago.
In the City of Toronto the average price of $395,342 increased less than one per cent from the July 2007 price of $395,044 and 10 per cent from the July 2006 figure of $360,409.
In the 905 Region the average price increased three per cent to $355,401 compared to the July 2007 figure of $345,967. This also represents an eight per cent increase from the July 2006 average of $329,644.
“Sales declined 12 per cent last month from the best-ever July 2007 record of 8,912 but increased 10 per cent from the 7,082 sales transacted in July 2006,” said Ms. O’Neill. “Comparing July 2007 with July 2006, sales increased by 26 per cent.”
In the City of Toronto 3,132 sales were recorded, down 14 per cent from July 2007’s 3,640 transactions but up 10 per cent from the 2,852 sales recorded two years ago in 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.
In the 905 Region there were 4,674 transactions, down 11 per cent from July 2007’s 5,272 sales but up 10 per cent from the 4,230 sales recorded in July 2006. Comparing July 2007 with July 2006, sales increased 25 per cent.
From a year-to-date perspective, the GTA’s 51,249 sales in 2008 have declined 14 per cent from the 59,339 reached at this time a year ago.
Certain neighbourhoods throughout the GTA experienced increased sales activity in July.
In Whitby (E15) sales increased 22 per cent from July 2007, based on strong sales in most housing types.
Brampton East (W24) saw a 12 per cent increase, based primarily on semi-detached home sales.
Strong detached home sales drove Uxbridge (N16) to a 23 per cent increase compared to a year ago.
The Annex (C02) experienced a 29 per cent sales increase due to strong detached home and condominium apartment sales.
In addition to stable prices, the list to sale price ratio, at 98 per cent, remains unchanged from a year ago.
“While homeowners continue to see healthy returns, it is taking slightly longer to achieve a sale; the average time on market has increased to 33 days compared to 31 days a year ago,” said Ms. O’Neill. “This may be due to that fact that there is now more choice available to homebuyers; there are currently 26,543 active listings, a 28 per cent increase from a year ago.”
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from January 1995 to Date - a very interesting cyclical pattern is clearly
seen!
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compares to the 5 year rate
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
July 2008 Sales figures
May 2008 Sales figures
April 2008 Sales figures
March 2008 Sales figures
February 2008 Sales figures
January 2008 Sales figures
Neighbourhood Corner - Mississauga - Each month The Toronto Real Estate Board profiles a neighbourhood and for January of 2006 TREB chose Mississauga!
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 (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.
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.
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.
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.
Housing Market Indicators |
||||
|
This month |
This month |
% Change |
|
Sales* |
8,084 |
7,329 |
(-9%) |
less sales |
New Listings* |
12,059 |
12,012 |
( -- ) |
equal listings |
Active Listings* |
20,063 |
22,368 |
(+11%) |
more listings all = softer market and prices |
* All figures above for Single-Family Dwellings.
February
28, 2008
|
|||
Region |
Area Sales |
Av. 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. |
This is a graphical representation showing the percentage
of homes that sold in each price range.
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