The Online Toronto Real Estate Newsletter and the 3D Digital Online Toronto Real Estate Magazine
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TORONTO REAL ESTATE MARKET NEWS
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DECEMBER/JANUARY 2007
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 We think every buyer and seller should be fully informed without being hassled. Hence, almost all the information at our website is free for browsing at your leisure. We don't require any forms to be filled out in order to utilize this knowledgeable information. The same applies to our monthly 3D Digital Online Toronto Real Estate Magazine with home ownership and living in Toronto related articles. Just click the cover at the left to open this magazine. If and when you are ready to buy or sell, please contact us or complete one of the forms at our website to request the service you need.
 Real Estate Sales Representative
Coldwell Banker Case Realty
Phone: 416-696-5100
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.”
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.
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.”
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.”
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.”
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.
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.”
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.
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.”
Summer Starts Strong
TORONTO, July 6, 2006--The summer of 2006 got off to a booming start, with 8,730 resale home sales in the month of June, incoming TREB President Dorothy Mason announced today.
"This marks the fourth month in a row that sales have topped the 8,000 mark, giving us a year-to-date total of 45,797 sales," Mrs. Mason stated. "That figure is up two per cent over 2005, which turned out to be the best year ever recorded."
The average price came in at $358,035 in June, up four per cent over the $345,065 recorded in June of last year. "Prices remain affordable," Mrs. Mason said, "yet homeownership remains an excellent investment, with an annual return that exceeds inflation."
Average time-on-market remained at 32 days, and inventory fell a little (three per cent) from May to 25,393. "There is still plenty of product out there on the market," Mrs. Mason noted. "And that should keep a cap on price increases."
Breaking down the total, 3,245 sales were reported in TREB’s 28 West districts and averaged $339,469; 1,579 sales were reported in the 14 Central districts and averaged $463,581; 1,762 sales were reported in the 23 North districts and averaged $385,084; and 2,144 sales were reported in TREB’s 21 East districts and averaged $286,174.
Neighbourhood Corner
Etobicoke
Etobicoke (districts W-6 to W-10) has been 2,413 sales to-date in 2006, up one per cent from the 2,379 recorded from January to June of 2005. The average price climbed seven per cent to $383,220 from last year's $357,070.
June keeps pace
TORONTO, July 6, 2006--The Toronto Area real estate market began the summer season with a strong showing in June, Toronto Real Estate Board President Dorothy Mason announced today. “The year continues to be very active,” Mrs. Mason said. “June’s 8,730 sales are within five per cent of last June’s total of 9,153, which was part of a record year.”
Mrs. Mason noted that although June was more balanced than previous months, 2006 remains about two per cent ahead of last year’s pace.
“Yeartodate figures show the record first quarter has been followed by solid, steady results in the late spring and early summer.”
According to Jason Mercer, Senior Market Analyst for the Canada Mortgage and Housing Corporation, favourable economic conditions are helping to keep demand strong.
"Robust June sales are testament to the fact that demand for ownership housing remains strong in the Greater Toronto Area. Steady increases in employment and wages coupled with low borrowing costs have kept the number of home buyers near record levels," Mr. Mercer said.
Areas consisting primarily of detached homes were particularly active during June, compared to figures from a year ago.
Wilson Heights in North York saw 42 per cent more transactions than in June 2005.
In Scarborough, the Birchmount Park / Cliffside area of the waterfront had 38 per cent more homes change hands as compared to June 2005.
North of Toronto, the northern part of Richmond Hill had a 17 per cent increase in overall transactions led by detached home sales.
Meanwhile, a jump in activity of semidetached homes helped push the Junction / High Park area of Toronto 33 per cent higher than last June in terms of overall sales.
"The market is still very healthy and there is a lot of choice for all types of homebuyers,” Mrs. Mason added. “It’s a very good time to be in the housing market.”
Market Stays Hot in June
TORONTO, June 19, 2006 -- The year’s strong spring housing market remained active in the first half of June with 4,074 homes changing hands, Toronto Real Estate Board President John Meehan announced today. An average of nearly 300 homes per day sold through the first 15 days of the month.
“Market conditions have been very good all spring, and the strong activity we’ve seen is a reflection of that,” Mr. Meehan said. “With just a few days remaining, this spring has so far been over two per cent more active than last spring.”
Jason Mercer, Senior Market Analyst for the Canada Mortgage and Housing Corporation, noted that with strong economic fundamentals remaining in place, the Toronto Area housing market will remain quite healthy.
“Home sales will remain well above the long-term average this year,” Mr. Mercer said.
The average price for a home in the Toronto Area at mid-month was $358,648, up four per cent from the end of June 2005. The median stood at $303,000, also up four per cent from the $292,000 seen a year ago. Average time on the market for each sale remained very low at 32 days.
Toronto’s eastern waterfront continued to be very active during the first half of June. In The Beach, 30 per cent more homes changed hands overall compared to mid-June 2005, with detached homes the most active type. Immediately to the east in Scarborough’s Cliffside / Birchmount Park area, a 55 per cent increase in activity took place to mid-month, compared with mid-June figures from last year.
Further west, strong sales of condominiums and semi-detached homes in the Junction / High Park area of Toronto pushed overall sales 40 per cent higher than the first half of last June.
“Good fundamentals and lots of consistency are the key factors in this market,” TREB’s President said. “It’s a great time to make a switch to another home or get in the market for the first time.”
May is Best Month Ever!
TORONTO - Monday, June 5, 2006. -- With 9,434 sales recorded last month, May 2006 has proven to be the best month ever recorded in the 86 year history of the Toronto Real Estate Board, TREB President John Meehan announced today. "The May figure is up over two per cent from May 2005, when 9,209 sales were recorded, and up almost two per cent over the previous best ever month, June 2004, when 9,275 sales were recorded. The Toronto re-sale market is as healthy as it has ever been."
The president noted that the average price came in at $365,537 last month, compared to April's $366,683. "The key is that 17,685 new listings came onto the system in May, which pushed total inventory levels to 26,220 active listings at month-end. Both figures are up considerably over their year ago levels (seven and five per cent, respectively), and this is keeping price inflation to a reasonable level."
Breaking down the total, 3,504 sales were reported in TREB’s 28 West districts and averaged $340,841; 1,739 sales were reported in the 14 Central districts and averaged $483,682; 1,898 sales were reported in the 23 North districts and averaged $390,999; and 2,293; sales were reported in TREB’s 21 East districts and averaged $292,600.
Neighbourhood Corner
Brampton
Brampton (W-23 and W-24) has seen 3,296 sales during 2006, up marginally from the 3,292 recorded to the same time last year. The majority of re-sales in this area were of detached (1,837) and semi-detached (731) houses. The average for detached was $341,585, a seven per cent increase over 2005; the average for semis was $265,103, up five per cent over 2005.
Over 8,000 Sales Make for Solid April
TORONTO - Wednesday, May 3, 2006 -- Toronto Real Estate Board Members reported a solid 8,361 sales in April, TREB President John Meehan reported today. "April's result was the third best performance ever recorded for the month, and year-to-date sales, at 28,020, are up five per cent over January-to-April of 2005."
Meanwhile, prices trended upward in April, with the average rising four per cent over March to $366,683. It was also up seven per cent over the $342,032 recorded in April of 2005. "A price jump like this is good news for home-owners. However, potential purchasers can take comfort from the fact that, with listings up four per cent over last April 25,245), further increases should be quite limited for the remainder of the year."
Breaking down the total, 3,189 sales were reported in TREB’s 28 West districts and averaged $340,900; 1,442 sales were reported in the 14 Central districts and averaged $499,194; 1,701 sales were reported in the 23 North districts and averaged $393,841; and 2,029; sales were reported in TREB’s 21 East districts and averaged $290,262.
Neighbourhood Corner
Markham
So far in 2006, TREB Members have recorded 821 sales in the Markham area (N11), up eight per cent over the 757 sales recorded in the first four months of 2005. Of these, 451 were of detached homes, which averaged $482,576, a five per cent increase over 2005. In addition, 126 sales were of Attached-Row Houses, which transacted for an average of $306,769.
April setting record pace
TORONTO, April 20, 2006 -- In the first half of April, the Toronto Area resale housing market showed a three per cent increase in transactions compared to the same time period a year ago, Toronto Real Estate President John Meehan announced today. The 4,140 sales that took place during the first half of the month were also up one percent from the record-setting pace of mid-April 2004.
“The market followed its best first quarter ever with another solid performance to start this month,” Mr. Meehan said. “The spring season is a very important indicator for the overall health of the market and it is very encouraging to see this kind of performance.”
The President also reported that the average price of a home in mid-April was $366,878, two per cent higher than the mid-March figure of $360,285, and up nine per cent over the $337,206 recorded in mid-April of 2005.
Ted Tsiakopoulos, Ontario regional economist for CMHC, noted that a strong economy and low interest rates are behind the active resale market.
"Strong home sales continue to push GTA home prices higher in April. Steady increases in home prices since the mid 90s have helped consumers feel very confident investing in real estate. A steady job market, strong consumer confidence and interest rates near historical lows will ensure that prices remain sustainable."
A few neighbourhoods across the Greater Toronto Area showed particularly high mid-April sales totals in comparison to mid-April figures from last year:
In the East, Scarborough's Wexford / Dorset Park area saw 71 per cent more overall transactions compared to mid-April 2005, helped by a jump in condominium activity.
In the West, overall sales activity in Rexdale was 62 per cent higher than totals recorded midway through April of a year ago.
Condominiums made up the majority of transactions in Toronto's Downtown East neighbourhood as the area saw 60 per cent more overall transactions in the first half of April, compared to a year ago.
North of Toronto, the Markham West / Langstaff neighbourhood showed an overall increase of 89 per cent compared to mid-April of last year, fueled by strong sales of detached homes.
Mr. Meehan added that Toronto Area consumers have a lot to be positive about.
“Consumers are seeing consistent, positive results based on healthy fundamentals and it's fostering a lot of confidence. The market is well supported and is giving steady returns, yet it remains quite accessible. It's still a good time to get into the market or make a move.”
Best first quarter ever
TORONTO, April 5 - Ten per cent more resale home transactions took place during the month of March than during the same month a year ago, Toronto Real Estate Board President John Meehan announced today. The March total of 8,707 sales was the second-highest ever, bringing the total for the first quarter of 2006 to 19,831 sales, a record first quarter result.
"There is a lot to be positive about in this market," Mr. Meehan said. "The year has started very strongly and it shows no signs of slowing as the peak spring market approaches." According to Jason Mercer, Senior Market Analyst for the Canada Mortgage and Housing Corporation, strong economic fundamentals are helping to maintain consumer confidence. "Consumers remain upbeat about home ownership," he said
 "Tight labour market conditions with low unemployment and rising real wages, along with very low borrowing costs have kept potential buyers confident in their ability to purchase and pay for a home."A number of areas across the city of Toronto showed high March sales totals in comparison to totals recorded in March 2005:
 Condominium sales represented the majority of sales as the Scarborough Centre / Woburn area saw 57 per cent more overall transactions compared to last March.Condominium sales continued to fuel the Downtown / Harbourfront area as it experienced an overall increase in sales of 34 per cent compared to March of last year.Further west, the Junction / High Park area of Toronto experienced 63 per cent more overall transactions compared to the same timeframe a year ago"The housing market is in good shape overall," Mr. Meehan added. "There are strong fundamentals in place and we are seeing that translate into steady performances month after month. It is still a great time to be in the market."
Neighbourhood Corner: The Beaches and Riverdale
The Beaches (E-2) experienced 226 sales in the first three months of 2006 for an average price of $454,495, up 10 per cent over 2005's $411,203 first quarter figure. Detached homes in The Beaches averaged $615,780 and semis $408,898. Riverdale (E-1) recorded 224 sales during the same time-frame, up 15 per cent over the January to March period of 2005. Detached homes averaged $390,388.
Sales up Nine Per Cent over February 2005
TORONTO - Friday, March 3, 2006--Sales of existing homes rose to 6,756 in February, a nine per cent increase over the same month last year, TREB President John Meehan announced today. "The Toronto resale market is accelerating nicely as we move towards Spring," the President said.
"It looks like another healthy year ahead of us." Mr. Meehan further noted that February's performance was the second best for the month ever recorded and up 47 per cent from January, which is in line with seasonal trends.
On the pricing front, the average in February rose to $353,928, a six per cent increase over both February 2005 and January's figure of $332,687. The median price told much the same story, rising six per cent to $298,000 over $281,000 recorded during last February, and up three per cent over January 2006.
Breaking down the total, 2,524 sales were reported in TREB’s 28 West districts and averaged $333,969; 1,219 sales were reported in the 14 Central districts and averaged $465,484; 1,344 sales were reported in the 23 North districts and averaged $377,795; and 1,669; sales were reported in TREB’s 21 East districts and averaged $283,414.
Neighbourhood Corner
Unionville
All of the 17 sales recorded this year in Unionville (within N-11) were detached homes (mostly two-story), and averaged $523,188, up one per cent over the $517,633 recorded during the first two months of 2005. Prices ranged from $320,000 to about $750,000, and average DOM was 34 days.
February challenges record
TORONTO, February 17, 2006 -- The 3,301 resale home transactions through the first half of the month put February 2006 slightly ahead of record-setting first half of February 2002, when 3,286 transactions were recorded, Toronto Real Estate Board President John Meehan announced today. He also noted that the current month is up almost 13 per cent over last year’s mid-month figure of 2,924.
“The market is off to a solid start, though it’s obviously still very early in the season. The mild winter has likely contributed to higher activity, but nevertheless a strong performance like this is evidence of the overall health of the market,” Mr. Meehan said.
The average price of a home in mid-February was $348,804, up 12 per cent from the $311,065 recorded at the same point in January, and up four per cent over the $334,968 recorded a year ago.
According to Jason Mercer, Senior Market Analyst for the Canada Mortgage and Housing Corporation, strong results through the first half of the month reflect the strong fundamentals that continue to underlie the Toronto area housing market.
“While rising slightly over the past few months, mortgage rates have remained very low by historical standards. Low borrowing costs coupled with respectable job growth have kept home purchases near record levels,” Mr. Mercer said.
At mid-month, some of the most active areas compared to mid-February 2005 were found in the west end of the city of Toronto, outside the downtown core:
One large area east of the Humber river, stretching from High Park in the south up to Downsview, showed an average of 68 per cent more overall transactions compared to mid-February of last year. Detached homes are the most common housing type in this area.
In the east, the Guildwood / Scarborough Village area of Toronto saw 44 per cent more overall transactions than a year ago, led by sales of detached homes.
Outside Toronto, sales activity to mid-month in the town of Whitby was 43 per cent higher than during the same time frame a year ago.
Mr. Meehan added that a strong start to the year is good for consumer confidence.
“Consumers see the strong foundations that are in place and it reassures them that it is a good time to get into the market for the first time or make a lifestyle change by switching homes.”
2006 begins with a bang
February 6, 2006 -- During the first month of the year the resale housing market was ten per cent more active than it was in January 2005, Toronto Real Estate Board President John Meehan announced today. The 4,587 transactions during the month of January also made it the second-best January ever recorded.
"Overall, this is a very encouraging performance for this time of year. Last year finished as a record, so to be ahead of that pace early on shows that the market has a lot of stability heading into the busier spring months," Mr. Meehan said.
Some specific neighbourhoods that performed strongly in 2005 continued to perform well in January, demonstrating high levels of activity in comparison to January of last year. These included:
In the Junction/High Park area of Toronto, 55 per cent more overall transactions took place during the month than did in January of the year before.
Detached homes were the most popular housing type in Willowdale, as the area showed 68 per cent more overall transactions than in January 2005.
In Markham South, link homes represented half of all transactions as the area showed 32 per cent more overall activity compared to a year ago.
According to Jason Mercer, CMHC's Senior Market Analyst for the Greater Toronto Area, January results were in line with forecasts for 2006.
"Existing home sales will remain near record levels this year. Steady employment growth, in-migration and low borrowing costs will continue to fuel strong ownership demand going forward," Mr. Mercer said.
"Consumers have a lot of reasons to be confident of a healthy market in 2006," Mr. Meehan said. "It's very early yet, but strong figures to start off the year can set the tone for the ensuing months. It's a very good time to be in the market."
TORONTO - 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.
TORONTO, January 18, 2006 -- The first half of January resulted in 1,508 resale home sales in the Greater Toronto Area, Toronto Real Estate Board President John Meehan announced today.
“As usual, activity in the post-holiday season market is more moderate than during the peak spring months, but so far it is running at a normal pace for this time of year,” Mr. Meehan said. “Sales typically accelerate during the second half of the month and into February as the spring market begins to warm up.”
Ted Tsiakopoulos, Ontario Regional Economist for the Canada Mortgage and Housing Corporation, cited strong economic fundamentals as reasons for confidence in the Toronto market.
“Favourable interest rates, positive consumer sentiment and a respectable job market will ensure Toronto’s resale market will remain healthy in 2006,” Mr. Tsiakopoulos said.
Strong sales of condominiums played a significant role in one of the hottest markets in the GTA. In Toronto’s Downtown/Harbourfront area, sales of condominiums made up 89 per cent of the transactions, as overall sales in the first half of January outpaced last year’s total by 69 per cent.
The average price of a home in the Greater Toronto Area in the first half of January was $311,065, an increase of two per cent over the $303,236 recorded during the first half of January 2005.
Mr. Meehan added, ”The overall stability of the market makes it an excellent time to buy that first home or make a lifestyle change by switching to a different home.”
* Please note that TREB counts by business or sales days. In a 30 day month, there will usually be about 20 sales days, depending on when the weekends fall, holidays, and so on.
Source: Toronto Real Estate Board
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