March 6, 2007 -- TREB Members reported 6,772 sales in February, an increase over February 2006 (6,756 sales) and the second best total for this month ever recorded, TREB President Dorothy Mason announced today. "While the weather last month may have been cold, Toronto's resale housing market remained hot," noted Ms. Mason. "
And while it is too early to make predictions, it is clear from the start of 2007 that the spring season is likely to produce sales numbers at east comparable to those of the past several years, which have been record or near-record performances."
Meanwhile, average prices climbed four per cent over the previous month to $368,687 as sales activity accelerated. They were also up four per cent from the February 2006 figure of $353,928.
The average time-on-market was a torrid 35 days.
February stays right on track
TORONTO, March 6, 2007 -- Resale housing activity in the month of February was slightly higher than a year ago, Toronto Real Estate Board President Dorothy Mason announced today. A total of 6,772 transactions took place in the month, as compared to 6,756 in February 2006.
“Sales activity has been strong to begin the year,” Mrs. Mason said. “Results from the first two months show that so far 2007 is five per cent ahead of last year's pace.”
“The important thing is that we are seeing strong results on a consistent basis, which speaks volumes about the stability of the market,” Mrs. Mason added. “As we head into the most active part of the year, it's an excellent time to get into the market for the first time or make a switch to a different home.”
In Scarborough Town Centre / Woburn (E09), a jump in sales of detached homes pushed overall activity up 22 per cent compared to February 2006.
Strong condominium apartment sales in Mimico / New Toronto (W06) contributed to a 29 per cent increase in overall transactions compared to a year ago.
Central Toronto's Davisville neighbourhood (C10) saw 20 per cent more transactions than the same month a year ago, with strong sales among most housing types.
North of Toronto in Newmarket (N07), detached homes were the most popular type as transactions increased 32 per cent compared to last February.
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.
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
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 2006
February 2007 Sales figures
January 2007 Sales figures
Neighbourhood Corner - Mississauga - Each month The Toronto Real Estate Board profiles a neighbourhood and for January of 2006 TREB chose Mississauga!
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.
Housing prices in selected areas of the GTA | ||||
Municipality | Standard Condo Apt. | Standard Two Storey House | Standard Town House | Senior Executive House |
Brampton | 155,000 | 280,000 | 210,000 | 585,000 |
Burlington | 181,000 | 275,000 | 181,000 | 490,000 |
Markham | 260,000 | 358,000 | 245,000 | 465,000 |
Mississauga | 185,000 | 290,000 | 206,500 | 490,000 |
Oakville | 225,000 | 290,000 | 220,000 | 600,000 |
Richmond Hill | 225,000 | 290,000 | 225,000 | 410,000 |
Toronto - Etobicoke (Islington Kingsway) |
210,000 | 415,000 | 232,000 | 640,000 |
Toronto - Leaside | 250,000 | 645,000 | 350,000 | 950,000 |
Source: Survey of Canadian House Prices, Fourth Quarter 2004 Prices as of Oct.-Dec. 2004 (CDN $) |
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.
Totals for this last month
Dwelling Type |
Sales |
% |
Median |
Detached |
4,622 |
98 |
$340,000 |
Semi Detached |
1,171 |
99 |
$271,000 |
Condo Townhouse |
865 |
98 |
$214,000 |
Condo Apt. |
1,643 |
97 |
$191,000 |
Link |
250 |
98 |
$256,250 |
Attached Row Townhouse |
596 |
99 |
$254,750 |
Co-op Apt. |
37 |
97 |
$166,000 |
Detached Condo |
9 |
97 |
$214,000 |
This is a graphical representation showing the percentage
of homes that sold in each price range.
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