Market Watch February 2010

Page 1

SINGLE FAMILY RESIDENTIAL BREAKDOWN

February 2010

1.8 % 7.3% % 0.2 0.1 %

24.6 %

February Sales and Average Price Increase Annually

7.3 %

TORONTO - Wednesday, March 3, 2010 Greater Toronto REALTORS® reported 7,291 sales through the Multiple Listing Service® (MLS®) in February, representing a 77 per cent increase over February 2009. The average price for these transactions was up 19 per cent year-over-year to $431,509. Sales and average price increases represent both increased demand for ownership housing and the base year effect, which involves a comparison of economic recovery this year to a period of economic decline last year.

New listings also increased in February, climbing 24 per cent compared to the same month last year. 2.3 %

7.0 % % is “Annual 21.5 growth in new listings % 0.3 0.1 % expected to continue. New listings growth will start to outstrip sales growth as we move through 2010,” 8.5 % Jason Mercer, TREB’s Senior said Manager of Market Analysis. “As the market becomes better supplied, 12.0 % 48.3 % we will see more sustainable singledigit rates of price growth.”

Median Price In February, the median price was

$366,300,

from

February of 2009.

Median

200000 100000 2001

2002 2003

2004

%

Detached Single Detached 3,442

99

$453,000

843 101

$367,000

533

99

$266,000

1,790

99

$285,000

Semi-Detached Semi Detached

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

Median

Link Link

128 100

$350,345

Attached/Row Att/Row/Twnhouse

533 101

$343,663

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

15

96

$232,000

7

99

$406,573

the

Feb. 2009 Sales New Listings Active Listings* Days on Market

Feb. 2010

4,120 10,239 21,440 45

7,291 12,726 14,514 22

%Change (77%) (24%) (-32%) (-51%)

* 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

300000

2000

Sales

Inside

n

400000

0

Dwelling Type

$312,900 recorded during

Annual Average and Median Price

Average

47.2 %

Housing Market Indicators

“Increases in existing home sales and average price were noted across the GTA in low-rise and high-rise home types. Similar rates of growth were experienced in the City of Toronto and surrounding 905 regions,” said TREB President Tom Lebour. “This suggests that first time, move-up and down sizing buyers are all active in the existing home marketplace.”

500000

11.6 %

2005

2006

2007

2008

2009

2010


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