Market Watch July 2009

Page 1

SINGLE FAMILY RESIDENTIAL BREAKDOWN

July 2009

GTA REALTORS® report resale record in July

8.5 %

TORONTO - Thursday, August 6, 2009

“The steep drop-off in sales2.3experienced 7.0 21.5 at the beginning of the year has0.3 all0.1 but dissipated,” explained Jason Mercer, TREB’s Senior Manager of Market Analysis. “With five months left to go 8.5 in the year, it is probable that total existing home sales in 2009 will be at 12.0 48.3 or above last year’s level.” %

%

“Households confident in their positioning within the current economic environment have taken advantage of housing affordability in the GTA,” said TREB President Tom Lebour. “The real estate sector has been one of the sectors making a positive contribution to economic growth in the GTA, not to mention Ontario and Canada more broadly.”

Median Price In July the median price was $339,900,

from

the

$325,000

recorded during July of 2008. n

Median

100000 2001

2002 2003

Dwelling Type

%

Sales

Median

Detached Single Detached 4,806 98

$422,750

Semi-Detached Semi Detached

$330,000

1,042

Condo Condo T.H. Townhouse Condo Apt. Apt Condo

%

%

99

846

98

$266,750

2,361

98

$260,000

Link Link

181

99

$326,000

Attached/Row Att/Row/Twnhouse

677

99

$320,000

Co-op Co-op Apt. Apt

40

96

$198,500

Detached Det CondoCondo

14

97

$372,500

Housing Market Indicators July 2008 Sales New Listings Active Listings* Days on Market

July 2009

7,806 14,830 26,543 33

9,967 12,174 16,915 31

%Change (28%) (-18%) (-36%) (-6%)

* All figures for single-family dwellings.

District Map ............................................................. 2 Price Category Breakdown......................................2 East District ............................................................. 3 West District ............................................................ 6 Toronto District ......................................................10 North District..........................................................12 Annual Summary ...................................................16 Single Family Comparison ....................................16

200000

2000

48.2 %

Inside

300000

1999

%

%

Annual Average and Median Price

0

%

%

Year-to-date sales, at 50,632 are down 1.2 per cent compared to the first seven months of 2008. Average

Average

10.5 %

price, at $385,808 is down by less than one-half of one per cent.

In July 2009, Greater Toronto REALTORS® reported a record 9,967 sales, up 28 per cent from July 2008. The average price for July transactions was $395,414 – up by six per cent compared to the same month last year.

400000

1.8 % 6.8% % 0.4 0.1 %

23.7 %

2004

2005

2006

2007

2008

2009


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