House Trends and Real Estate Market Statistics

Market Watch Report House Market Trends and Current Market Statistics

Summer market begins with a bang

Oakville Real Estate Report....

Best June Ever!

TORONTO - Friday, July 6, 2007 -- Last month the Toronto Real Estate Market recorded 10,451 sales for the best June performance ever, Toronto Real Estate Board President Donald Bentley announced today. "June's figure was up almost 20 per cent over the 8,730 sales recorded during the same month in 2006, and down only slightly (six per cent) from May's best-ever figure of 11,146 sales. To get some idea of the current strength of the market: there have been more sales in the last two months (21,597) than occurred in all of 1977 (20,512), thirty years ago this year."

While the sales pace remained brisk, average prices declined marginally (less than one per cent) from May to $383,963. The year-to-date average was $373,719, up five per cent over the first six months of 2006 ($356,977).

"Price increases remain only modest," noted the President. "Inventory, at 21,789, is robust enough to keep a lid on upward inflation. The current market is still accessible to first-time buyers, and should continue in this mode for the foreseeable future."

Breaking down the total, 3,936 sales were reported in TREB’s 28 West districts and averaged $351,513; 1,819 sales were reported in the 14 Central districts and averaged $513,491; 2,248 sales were reported in the 23 North districts and averaged $406,565; and 2,448 sales were reported in TREB’s 21 East districts and averaged $302,558. n

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TORONTO, July 6th, 2007-- In June, the Toronto Area resale housing market was nearly 20 per cent more active than a year ago, Toronto Real Estate Board President Donald Bentley announced today. The 10,451 sales recorded in the month were also just shy of the 11,146 sales that made May TREB's most active single month ever.

"This market is very healthy and shows no signs of letting up," Mr. Bentley said. "The strong spring we've seen is carrying through to the summer months, and that has helped to push this year's total activity past 2006 by nearly 11 per cent."

Toronto's Danforth / Woodbine Heights area (E03) saw overall transactions jump by 32 per cent compared to last June, with gains across most housing types.

Strong sales of condominium apartments and town homes in Mississauga's Northwest Cooksville (W15) area contributed to an overall increase in activity of 57 per cent compared to June 2006.

Detached home sales in Bayview / Hillcrest Village (C15) nearly doubled as overall transactions increased by 39 per cent compared to June of last year. Just north of the city, Richmond Hill's southern portion (N03) saw a 48 per cent increase in transactions compared to the same timeframe one year ago.

"The current market is exceeding expectations because it has very solid fundamentals to build upon," TREB's President added. "We have seen good returns on investment, and a strong economy and low borrowing costs have kept homes accessible. It's a great time to be in the market."

November market on solid footing

TORONTO, December 6, 2006 -- The Greater Toronto Area’s resale housing market maintained its strong pace in November as 6,281 homes changed hands during the month, Toronto Real Estate Board President Dorothy Mason announced today.

“The market is holding very steady as we progress through autumn and we are seeing a good level of activity across the board,” Mrs. Mason said. “Overall conditions are very healthy and 2006 remains within just one and a half percent of last year’s all-time record sales pace.”

Despite a slight moderation from last November’s total of 6,646 transactions, the resale market remains on solid footing according to Jason Mercer, CMHC’s Senior Market Analyst for the GTA.

“Existing home sales have remained very respectable through the first two months of the fourth quarter,” Mr. Mercer said. “Home buyers have remained confident in their ability to purchase a home due to low borrowing costs and steady employment and wage growth, on average.”

In the city’s east end, Scarborough Town Centre / Woburn (E09) saw an increase in overall sales of 30 per cent compared to November 2005, led by a jump in condominium transactions.

A jump in transactions of semi-detached homes fueled an overall sales increase of 53 per cent in the York South area of Toronto (W03) compared to the same timeframe a year ago.

North of Toronto in Richmond Hill North (N05), detached homes were the most common housing type changing hands as the area saw an overall increase in sales of 29 per cent compared to last November.

“It’s a great time to be getting in the market or making your move,” TREB’s President added. “Conditions in the GTA remain very stable, and that’s good news for consumers.”

October Housing Market Report

Housing market stability continues

TORONTO, November 3, 2006--Toronto resale housing activity remained strong in October, as 6,876 homes changed hands during the month, Toronto Real Estate Board President Dorothy Mason announced today.

The market has shown strong overall numbers despite having normalized from record activity,” Mrs. Mason said. “Yeartodate figures show this year within one and a half per cent of 2005’s record pace, and October sales were four per cent higher than September’s, indicating a solid autumn market."

In The Beach neighbourhood of Toronto (E02), overall sales were 45 per cent higher than October 2005, led by a large increase in semidetached housing transactions.

A jump in condominium activity in Rexdale (W10) contributed to 23 per cent more overall transactions in October, compared with October of a year ago.

Outside the city, Richmond Hill North (N05) showed an overall increase of 32 per cent compared to last October, with detached homes the most common housing type.

Jason Mercer, CMHC’s Senior Market Analyst for the Greater Toronto Area, noted that the GTA’s stable housing market benefits from solid economic conditions overall.

“The annual rate of existing home sales remains near record levels,” Mr. Mercer said. “Home buyers remain confident in their ability to purchase and pay for a home, due to steady growth in jobs and relatively low borrowing costs.”

The average price of a home in the GTA in October was $356,423, two per cent higher than September and four per cent higher than October 2005.

“Prices and activity are very consistent,” TREB’s President said. “This indicates that the market is firmly anchored on a solid foundation. It’s a great time to take advantage of all the choice in the marketplace.”

October Running Strong

TORONTO, October 18, 2006 -- In the first half of October, Toronto Area housing activity kept pace with mid-October results from a year ago, Toronto Real Estate Board President Dorothy Mason announced today.

“There were 3,007 sales reported to mid-month, essentially on par with the 3,012 sales reported during the same period in 2005,” Mrs. Mason said. “Adding to this strong result is the fact that transactions are up three per cent from the 2,913 recorded during the first part of September which is a good sign for the stability of the autumn market.”

In Northeast Scarborough (E11), the number of transactions to mid-month jumped 24 per cent compared to the same timeframe a year ago.

Rexdale (W10), in Toronto’s west end, saw a significant increase in condominium activity which helped to push overall sales up 59 per cent compared to mid-October 2005.

Condominiums were also the driving force behind a 43 per cent increase in overall mid-month sales in Toronto’s central downtown core (C01).

North of the city, Thornhill’s western half (N02) showed an overall increase in transactions of 48 per cent compared to the midpoint of last October, with detached homes being the most popular type.Meanwhile, the average price rose to $353,677, up six per cent over the $335,208 recorded to the middle of September. This figure is also three per cent higher than the $341,865 recorded during the first part of October last year.

Inventory stands at 25,839 listings, up two per cent over mid-September. The average number of days on the market for a home is 35.

Jason Mercer, CMHC’s Senior Market Analyst for the GTA, said, “Steady demand for resale homes has kept average prices rising above inflation, albeit at a lower annual rate, as buyers have benefited from increased choice in the marketplace.”

TREB’s President agreed that market conditions are favourable for consumers.

“It’s a great combination to have solid activity, good price growth and an increased level of inventory to choose from,” Mrs. Mason said. “There has never been a better time to move up to your dream home or get in the market for the first time.”

Friday, February 3, 2006 -- The new year got off to a good start with 4,587 sales in January, up 10 per cent over the 4,153 figure recorded in January 2005, TREB President John Meehan announced today. "Last month's result was the second best January ever recorded, and an eight per cent increase over the 4,255 sales recorded in December," Mr. Meehan said. "This certainly bodes well for the resale market going forward into the new year."

On the pricing front, the GTA-wide average came in at $332,687, up three per cent over the $323,141 recorded during the previous January. The median reached $288,200, up four per cent over the same time last year.

Breaking down the total, 1,796 sales were reported in TREB’s 28 West districts and averaged $315,108; 773 sales were reported in the 14 Central districts and averaged $424,503; 910 sales were reported in the 23 North districts and averaged $370,237; and 1,108 sales were reported in TREB's 21 East districts and averaged $266,285.

NEIGHBOURHOOD CORNER

Weekly Sales Real Estate  Report: