Market Watch March 2010

Page 1

SINGLE FAMILY RESIDENTIAL BREAKDOWN

March 2010

1.7 % 7.3% % 0.2 0.1 %

23.1 %

Record First Quarter Sales 8.0 %

TORONTO - Tuesday, April 6, 2010 March. The number of new listings grew by 42 per cent compared to March of 2008.

Greater Toronto REALTORS® reported 10,430 sales through the Multiple Listing Service® (MLS®) in March, pushing total first quarter 2010 sales to 22,418 – the best result on record under the current Toronto Real Estate Board (TREB) boundaries. The average price for March transactions was $434,696. The average price for the first quarter was $427,948.

“The average home price in the GTA will continue to grow this year, 2.3 % 7.0 % % % 21.5 but the pace will slow as we 0.3 move 0.1 % through the spring,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “As growth in new 8.5 % listings starts to outstrip growth in sales, buyers will experience more choice, in more sustainable % % 12.0resulting 48.3 single digit rates of average price growth.”

“The strong rebound in the existing home market was one of the initial drivers of economic recovery,” said TREB President Tom Lebour. “While we don’t expect to see the same rates growth moving forward, GTA households will remain confident in ownership housing as a quality long-term investment, especially as economic recovery expands across all industries.”

Median Price In March, the median price was

$370,000,

from

March of 2009.

n

Median

300000 200000 100000 2000

2001

2002 2003

2004

Dwelling Type

Sales

%

Detached Single Detached 4,968 Semi-Detached Semi Detached

99

$458,000

1,241 101

$360,500

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

Median

837

99

$285,000

2,411

99

$282,800

Link Link

177 101

$369,000

Attached/Row Att/Row/Twnhouse

765 100

$350,000

Co-op Co-op Apt. Apt

22 100

Detached Det CondoCondo

9

97

$222,500 $503,000

2005

2006

2007

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

Mar. 2010

6,171 13,357 23,642 40

10,430 18,914 18,684 20

%Change (69%) (42%) (-21%) (-50%)

* All figures for single-family dwellings.

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

the

$317,500 recorded during

Annual Average and Median Price

Average

47.6 %

Housing Market Indicators

The annual rate of growth for new listings continued to accelerate in

500000

11.9 %

2008

2009

2010


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