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."

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November Sales Break 6,000

TORONTO - Wednesday, December 6, 2006 -- November put in another solid performance, with 6,281 sales transacted through the TorontoMLS system, Toronto Real Estate Board (TREB) President Dorothy Mason announced today. "This 6,000 plus figure is in keeping with a generally healthy real estate market," said the President. "By the end of December, the Toronto area market will have exceeded 80,000 resales for only the third time in TREB history."
Prices remained stable in November, with the average moderating slightly to $355,727 from October's $356,423. The average was up four per cent over the November 2005 figure of $341,177.
Breaking down the total, 2,424 sales were reported in TREB’s 28 West districts and averaged $334,085; 1,223 sales were reported in the 14 Central districts and averaged $457,730; 1,152 sales were reported in the 23 North districts and averaged $391,959; and 1,482 sales were reported in TREB’s 21 East districts and averaged $278,785.

Neighbourhood Corner
Orangeville
Thus far in 2006, 559 sales have been recorded in the Town of Orangeville (W29) for an average of $261,234, a five per cent price increase over 2005. The majority of homes sold in the area were single-detached (422), which averaged $293,480, and semi-detached (79), which averaged $203,278.

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Sales up in early November

TORONTO, November 17, 2006--Toronto Real Estate Board Members reported 3,008 sales during the first half of November, an increase of four per cent from the 2,886 sales recorded during the same timeframe in 2005, Toronto Real Estate Board President Dorothy Mason announced today.
"Although the holiday season is almost upon us, momentum from the autumn market has carried over and things remain very active," Mrs. Mason said, noting that sales this month are also marginally ahead of mid-October's mark of 3,007.
Bayview Village / Hillcrest Village (C15) in Toronto showed an increase in sales of 40 per cent compared to the midway point of last November.
A jump in sales of semi-detached homes in York South (W03) fueled a 70 per cent overall increase during the first half of November, compared to the same timeframe last year.
In Ajax (E14), east of Toronto, mid-November sales were double the pace of what they were to mid-November 2005, with gains in most housing types.
The average home price to mid-month had risen one per cent to $357,023 over October's $353,677. On a year-to-year basis, November's average was up five per cent compared to the first half of last November ($338,831).
Active listings stand at 24,155, down six per cent from mid-October, as some houses have been pulled from the market in advance of the holiday season. The average time on the market for a home is 37 days.
According to Jason Mercer, CMHC's Senior Market Analyst for the GTA, strong sales and solid price gains reflect a healthy Toronto Area housing market.
"Steady existing home sales, at close to last year's levels, are evidence of continued demand for ownership housing in the Toronto Area," Mr. Mercer said. "Above-average home sales have kept the annual rate of price growth above inflation."
TREB's President said, "The GTA market is performing well, and consumers can be confident that it's a good time to purchase their first home or move to a different home for a change in lifestyle."

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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."

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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."

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Toronto's healthy market rolls along

TORONTO, October 4, 2006 -- The Toronto Area resale housing market showed solid activity throughout September with 6,622 sales to maintain the year's strong performance, Toronto Real Estate Board President Dorothy Mason announced today.
"Though the overall sales pace is at more normalized levels, 2006 remains within one per cent of 2005's all-time record pace for the year," Mrs. Mason said.
The average price of a home during September was $349,142, up five per cent from the $335,334 recorded last September.
According to Jason Mercer, Senior Market Analyst for the Canada Mortgage and Housing Corporation, good economic conditions continue to provide strong support for the housing market.
"While trending lower, sales are forecast to remain near record levels through 2007," Mr. Mercer said. "Steady job creation and low borrowing costs are key factors underlying continued strong demand for existing homes."
In Toronto's east end, Guildwood / Scarborough Village (E08) showed 37 per cent more overall transactions than the previous September as condominium sales in the area nearly doubled from the year before.
Strong results were seen in North York during the month, including a 27 percent jump in overall transactions in North York City Centre West / Willowdale (C07) compared to September 2005. Strong detached home sales contributed to the increase.
"We are still seeing healthy sales levels consistent with a housing market that is in very good shape," Mrs. Mason said. "Prices are increasing steadily and demand is based on real need. It's an excellent time to take advantage of these conditions by getting into the market or making a move to another home."

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Prices Show Gains in September

TORONTO - Wednesday, October 4, 2006 -- In September, TREB's average price climbed to $349,142, a three per cent increase over August, and also up three per cent over the $338,267 recorded in September of 2005. "Year-over-year prices currently show a five per cent increase over last year," TREB President Dorothy Mason added. "Home ownership as an investment continues to provide returns well above the rate of inflation."
As prices rose, sales continued at a more normalized pace, with 6,622 transactions of single-family dwellings sold through the TMLS system. "While down from the 7,326 sales recorded in September of 2005, last month was still the 3rd best September performance ever recorded," said Mrs. Mason. "Toronto's autumn market remains solid and strong, and by year-end our final sales numbers will exceed 80,000 transactions."
Breaking down the total, 2,552 sales were reported in TREB’s 28 West districts and averaged $331,006; 1,166 sales were reported in the 14 Central districts and averaged $443,881; 1,312 sales were reported in the 23 North districts and averaged $386,360; and 1,592 sales were reported in TREB’s 21 East districts and averaged $278,154.

Neighbourhood Corner
East York
To the end of September of this year, East York (E03) has seen 1,072 sales, down five per cent from the 1,131 recorded during the first nine months of 2005. Of this total, 529 were detached homes which sold for an average of $363,458, up five per cent over the $345,117 recorded during the same time period last year. There were also 268 semi-detached houses sold, for an average of $351,746. This is a seven per cent increase over the $329,546 sold between January and September in 2005.

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Toronto’s housing market remains steady

TORONTO, September 6, 2006 -- The August performance ever with 6,976 transactions recorded during the month, Toronto Real Estate Board President Dorothy Mason announced today.
The total number of transactions was within seven per cent of the alltime record of 7,498 sales set last August. Year-to-date figures show 2006 to be marginally ahead of the record pace for annual sales also set in 2005.
"Positive results like these show that the market is in good shape," Mrs. Mason said. "Relative to other segments of the economy real estate is very locally driven, and the Toronto Area market has long been supported by strong economic fundamentals."
"Consistent activity and steady price gains over an extended period of time have shown that housing demand in the GTA is based on real need," TREB’s President added. "Slight moderations in sales to more normalized levels help to keep the market from overheating," Ted Tsiakopoulos, Ontario regional economist for CMHC, noted that the good overall health of the market produces a variety of benefits.
"While home sales across the GTA have been healthy, listings have also been rising," said Ted Tsiakopoulos, CMHC`s Ontario regional economist. "A steady increase in new home listings is a good news story for Toronto’s residential real estate market. Rising new listings provide more choice for buyers and ensures discipline among those pricing their homes for sale," added Mr. Tsiakopoulos.
Some of the most active neighbourhoods during the month were located outside the city core. In the East, the Scarborough Town Centre / Woburn area •E09• showed a 27 per cent overall increase in transactions compared to last August, led by a jump in condominium sales. West of Toronto, Milton •W22• showed an overall increase of 72 per cent compared to August 2005, led by strong sales of detached and semidetached homes.
"It’s a great time to be in this market whether starting out or making a switch," Mrs. Mason said. "There is a lot of choice out there as we gear up for the busy autumn market."

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August Shows Strong, Stable Results

TORONTO - Wednesday, September 6, 2006 -- TREB President Dorothy Mason announced today that the Toronto resale homemarket continued its run of healthy showings in August, with 6,976 homes changing hands through the TorontoMLS system.
"Last month was the second best August ever recorded, off moderately from the record 7,498 figure achieved in 2005. In addition, the year as a whole has seen 59,488 single-family dwelling sales, up marginally from 2005's January to August performance. As people return from their summer holidays, we are looking forward to an even more active autumn market."
Prices remain stable in August, with the Average coming in at $338,192, less than one per cent lower than the July figure of $342,034. This figure is up five per cent over the $323,255 recorded during August of 2005.
Breaking down the total, 2,627 sales were reported in TREB’s 28 West districts and averaged $321,415; 1,181 sales were reported in the 14 Central districts and averaged $401,244; 1,493 sales were reported in the 23 North districts and averaged $388,674; and 1,675 sales were reported in TREB’s 21 East districts and averaged $275,050.

Neighbourhood Corner
Rosedale
Within Rosedale, there have been 116 properties sold to-date in 2006, for an average of $1,163,804. Of these, 44 have been detached homes, which averaged $2,087,600. This is a one per cent increase over the $2,072,854 recorded during the same time-frame in 2005.

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Solid Summer Sales

TORONTO, July 20, 2006-- In the first half of July, the Toronto Area resale housing market outperformed last year’s midJuly sales pace by three per cent, Toronto Real Estate Board President Dorothy Mason announced today.
The 3,251 transactions recorded to the 15 th of the month eclipsed the 3,145 sales recorded to the same time in July of 2005.
"As we progress through the summer, the market is demonstrating a great deal of stability," Mrs. Mason said. "The strong, consistent activity we are seeing is certainly a positive sign."
The price of a home in the Greater Toronto Area at midmonth was $346,267, up five per cent from the same period last year when the price was $329,478. "Price increases are steady," Mrs. Mason noted, "and a healthy 25,875 listings at midmonth means they will likely remain at a sustainable level."
Overall sales in Toronto’s downtown / Harbourfront area through the first half of the month outpaced last year’s midJuly performance by 30 per cent on the strength of a very active condominium market.
A jump in condominium activity also helped fuel an overall sales increase of 56 per cent in
"Consumers can find a lot to be confident about in terms of activity, prices and inventory," TREB’s President said. "Things are moving in the right direction so it’s a great time to be in the market."

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