SINGLE FAMILY RESIDENTIAL BREAKDOWN
September 2010
GTA Housing Market Conditions Remain Healthy in September 7.8 %
TORONTO - Tuesday, October 5, 2010 “Resale homes in the GTA remain affordable,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
Greater Toronto REALTORS® reported 6,310 sales through the Multiple Listing Service® (MLS®) in September 2010. This represented a 23 per cent decrease compared to the 8,196 sales recorded during the same period in 2009. Through the first nine months of the year, sales amounted to 69,069 – up four per cent compared to the first three quarters of 2009.
“It is important to consider the positive impact of declining mortgage rates 2.3 % 7.0 % 0.3 % over the past 21.5 % two decades. Simply 0.1 % considering home prices relative to incomes does not allow for an accurate analysis of affordability,” continued Mercer. “The share of average 8.5 % household income going toward a mortgage payment on the average priced12.0home in the GTA remains % % 48.3 within accepted lending guidelines. This is why the average home selling price has continued to grow.”
“The level of sales in the second half of 2010 has been lower, representing a balancing out period following record levels of sales in the latter half of 2009 and first few months of 2010. We remain on track for one of the best years in history for existing home transactions in the GTA,” said Toronto Real Estate Board President Bill Johnston.
Median Price
The average price for September transactions was $427,329– up five per cent compared to the average of $406,877 reported in September 2009. The average selling price through the first nine months of the year was $429,657.
In September, the median price was $360,325, from the
$347,000
recorded
during September of 2009.
Average
Median
400000 300000 200000 100000 0
2000
2001
2002 2003
2004
2005
2006
2007
11.3 %
47.6 %
Dwelling Type
Sales
% Median
Detached Single Detached 3,006
97 $452,000
Semi-Detached Semi Detached
98 $359,900
Condo Condo T.H. Townhouse Condo Apt. Apt Condo
713
493 97 $273,000 1,551 97 $279,000
Link Link
108 98 $360,500
Attached/Row Att/Row/Twnhouse 424 Co-op Co-op Apt. Apt Detached Det Condo Condo
98 $337,500
11
98 $192,900
4
97 $264,500
Housing Market Indicators AuguSept. 2009 Sept. 2010 %Change Sales New Listings Active Listings* Days on Market
8,196 12,185 15,894 27
6,310 (-23%) 12,899 (6%) 20,334 (28%) 33 (22%)
* 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
Annual Average and Median Price
500000
1.7 % 6.7% % 0.2 0.1 %
24.6 %
2008
2009
2010