Market Watch November 2009

Page 1

SINGLE FAMILY RESIDENTIAL BREAKDOWN

November 2009

1.5 % 6.7% % 0.4 0.1 %

25.7 %

GTA Home Sales Remain Strong in November

8.1 %

TORONTO - Thursday, December 3, 2009 Greater Toronto REALTORS® reported 7,446 sales in November – slightly more than double the November 2008 result when GTA home sales had dipped markedly due to the economic downturn. Year-to-date sales were up 14 per cent compared to the first 11 months of 2008.

average price year-to-date was up four per cent to $394,464. “Very strong annual growth rates for sales and average price should be 2.3 % 7.0 % % 0.3 % of 21.5 expected through the first quarter 0.1 % 2010, because we will be comparing the current recovery to the housing market decline experienced last 8.5 % winter,” according to Jason Mercer, TREB’s Senior Manager of Market 12.0 % Analysis. “As we move into the 48.3 % spring, growth rates will move to more sustainable levels.”

“This year in the GTA home sales will be in line with the healthy levels experienced between 2004 and 2006,” said Toronto Real Estate Board President Tom Lebour. “Increased resale home transactions in the Toronto area and country-wide played a key role in pushing the Canadian economy out of recession in the third quarter.”

Median Price In November, the median price was $353,800, from the November of 2008.

n

Median

400000 300000 200000 100000 0

1999

2000

2001

2002 2003

Dwelling Type

Sales

Detached Single Detached 3,457 Semi-Detached Semi Detached

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

%

Median

99

$445,000

813 101

$359,000

99

$268,500

1,917 99

604

$270,000

Link Link

115

Attached/Row Att/Row/Twnhouse

500 100

Co-op Co-op Apt. Apt Detached Det CondoCondo

99

$357,000 $331,000

33

98

$199,000

7

97

$334,500

Housing Market Indicators Nov. 2008 Sales New Listings Active Listings* Days on Market

Nov. 2009

3,640 9,925 27,037 41

7,446 9,923 13,827 26

%Change (105%) (0%) (-49%) (-37%)

* All figures for single-family dwellings.

2004

2005

2006

Inside 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

Annual Average and Median Price

Average

46.4 %

$312,250 recorded during

The average price for November transactions was up 14 per cent year-over-year to $418,460. The

500000

10.9 %

2007

2008

2009


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Market Watch November 2009 by Keller Williams Referred Realty - Issuu