Market Watch December 2009

Page 1

SINGLE FAMILY RESIDENTIAL BREAKDOWN

December 2009

1.8 % 6.5% % 0.3 0.1 %

28.0 %

GTA Resale Market Resilient in 2009 8.2 %

TORONTO - Wednesday, January 6, 2010 Greater Toronto REALTORS® reported 87,308 MLS® transactions in 2009 – a 17 per cent increase over 2008. This result included 5,541 sales in December. The 2009 result was in line with the healthy levels of sales experienced between 2004 and 2006, but lower than the record of 93,193 set in 2007.

The average price for December transactions was $411,931. “Market conditions became very tight in the latter half of 2009. Sales climbed strongly2.3 relative to % 7.0 % % % 0.3 21.5 the number of homes listed for sale, 0.1 % resulting in robust price growth that more than offset average price declines in the winter,” said Jason 8.5 % Mercer, TREB’s Senior Manager of Market Analysis. “A greater supply 12.0 % in 2010 will see home of listings 48.3 % prices grow at a sustainable pace.”

“After a slow start to the year, existing home sales rebounded during the second half of 2009,” said TREB President Tom Lebour. “As consumer confidence improved, many households moved to take advantage of affordable home ownership opportunities in the GTA. The strong residential real estate sector was a key contributor to overall economic recovery in Canada.”

Median Price In December, the median price was $349,000, from the December of 2008.

n

Median

300000 200000 100000 1999

2000

2001

2002 2003

Sales

Detached Single Detached 2,448 Semi-Detached Semi Detached

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

%

Median

98

$439,000

598 100

$355,000

99

$260,500

1,553 99

456

$274,500

Link Link

101 100

$340,000

Attached/Row Att/Row/Twnhouse

362

$330,000

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

99

16

96

$186,000

7

97

$230,000

Dec. 2008 Sales New Listings Active Listings* Days on Market

Dec. 2009

2,577 5,215 19,468 45

5,541 5,506 10,292 27

%Change (115%) (6%) (-47%) (-40%)

* 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

400000

0

Dwelling Type

$305,000 recorded during

Annual Average and Median Price

Average

44.2 %

Housing Market Indicators

The average home price in 2009 climbed four per cent to $395,460.

500000

10.8 %

2007

2008

2009


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Market Watch December 2009 by Keller Williams Referred Realty - Issuu