Etobicoke Real Estate Remains Strong

The Etobicoke and Toronto real estate market has been going strong since the start of the year. The number of properties now on the market is up sharply from earlier in the year and we have shifted from a sellers-market into the beginning of a balanced-market. Bank of Canada is widely expected to raise the overnight rate and in turn signal a rise in borrowing rates generally. Banks have already made upward adjustments in their mortgage rates. The Greek financial crisis may cause the Bank of Canada to defer this adjustment, or keep it to a very modest increase.

Here are the official comments from the Toronto Real Estate Board:

May 5, 2010 -- Greater Toronto REALTORS® reported 10,898 sales through the Multiple Listing Service® (MLS®) in April, representing a 34 per cent increase compared to April 2009. There were also 20,683 new listings in April – a 59 per cent annual increase. Both the sales and new listings results amounted to new records for the month of April under the current Toronto Real Estate Board (TREB) boundaries.


“The GTA resale market is functioning properly. Sales were high as buyers continued to take advantage of affordable home ownership opportunities. Listings grew as home owners reacted to strong sales and price growth,” said Toronto Real Estate Board President Tom Lebour. “More balanced market conditions will result in sustainable rates of annual price growth in the second half of 2010.”


The average price for April transactions was $437,600 – up 13 per cent compared to the average of $385,641 recorded in April 2009.

“Home sales continue to be driven by many different segments of the market, with sales growth for all major home types in both the City of Toronto and surrounding 905 regions,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “Home sales will remain strong in the second half of 2010, but will slip from the current record pace as borrowing costs rise.”

Here are all the charts... Click the chart to get a larger version.

2009 Real Estate Statistics Summary

The real estate year of 2009 began amidst the economic downturn. Hardly any homes were selling and those that were had to be priced at a steep discount. Mostly there were no buyers in the market. By May 2009 consumer confidence returned to the Toronto housing market and a strong housing recovery got underway. The rally continued until it faded away into the year-end holiday time when real estate typically is slower.

Whole year average price for Toronto rose 4.2% from $379,347 to $395,460

Comparing December 2008 to December 2009 the market is up by 14% to $411,931

But the December 2009 average is down by 1.6% from November 2009.

Got all that? The reporting of market statistics is a bit crazy in real estate! I have summarized the whole thing into a couple of charts to help explain it visually:

Here is the monthly chart for the last few years:


And here is the yearly chart back to 1972:



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Ralph Evans, Sales Representative
RE/MAX Professionals Inc., Brokerage
Phone 416 236-1241
Humbertown Plaza - 270 The Kingsway, Suite 200, Toronto ON

Etobicoke Real Estate

Strength of Toronto Real Estate

Toronto real estate statistics published today by the Toronto Real Estate Board shows the continuing strength of the market


TREB members reported 8,196 residential house and condo sales during the month of September 2009 with an overall average selling price of $406,877. That price is 10.4% higher year-over-year from where we were in September 2008, just as the financial world was crashing. This is also 4.9% higher than the August 2009 figure of one month ago. So this shows the impact the fall market has had on real estate activity and the continuing strength of the real estate market.

TREB then expects 2009 to turn out to be among the best years on record for the Toronto real estate market - an incredible turnaround from the buyers market that we experienced through last winter.

Want to see more market statistics or help buying and selling real estate? I am here to help!

Contact me for all your real estate needs...
Ralph Evans, Sales Representative
RE/MAX Professionals Inc., Brokerage

Etobicoke Real Estate

August Toronto Market Statistics

Toronto real estate remained in demand through the month of August. With 8,035 transactions occurring, the volume of sales is about 27% more than the same month a year ago.

August typically is a slower month than June and July. The modest month-to-month declines in volume and average prices is as expected. Real Estate should continue strong through the rest of the year. Prices may rise a bit further as the economy continues to strengthen. Toronto real estate prices are 6.3% higher than August of the year before and just a bit below the all time highs of early 2008. Toronto real estate has completely recovered from any economic downturn and continues to be a leading indicator of better times ahead.



Contact me for all your real estate needs...

Ralph Evans, Sales Representative
RE/MAX Professionals Inc., Brokerage
Etobicoke Real Estate

Hot Summer Market

July real estate statistics from the Toronto Real Estate Board shows that July 2009 was another hotter than normal month! 9,967 sales was just below the sales of the month before but well above the same time last year. Average prices slipped a bit to $395,414. This follows the normal seasonal summer trends.



"The steep drop-off in sales experienced at the beginning of the year has all but dissipated," explained Jason Mercer, TREB's Senior Manager of Market Analysis. "With five months left to go in the year, it is probable that total existing home sales in 2009 will be at or above last year’s level."

June Statistics - Record Breaker!

June 2009 turned out to be a very hot month for real estate in Toronto, as published in the Toronto Real Estate Board Statistics today.

10,955 sales in the month - the most in a single month since June 2007, and the monthly average price hit a new all time high of $403,972. If you were waiting for the bottom of the market, as your time to buy, well - that was last winter. Now we are in a rising market. It is a seller's market once again, with multiple offers and bidding wars becoming standard practice.

Back to Normal for Toronto Housing Market - April 2009 Toronto House Prices

Toronto Real Estate Board statistics for April 2009 show that the average price has jumped up by 6.5% since the month before to $385,641 with a volume of 8107 sales made in the month across the GTA - for houses and condos combined.

What this really shows is that Toronto Real Estate has regained almost all of its value, since the market peak. Average home values are now off just 3.1% from the market peak of May 2008.

Click to see larger image.

Expectation is for a further strong upward surge in volume and value as confidence returns to the country and economic numbers improve.

Let me know if you'd like more market information, or to get my help buying, selling and investing in real estate...

Ralph Evans
Sales Representative
RE/MAX Professionals Inc., Brokerage
Office 416 236-1241 Direct 416 577-5486
My website the RE/MAX RealEstateHelpDesk.ca

Toronto Real Estate Statistics to March 2009

Here is the monthly look at the GTA real estate, based on the Toronto Real Estate Board statistics.
Click on Chart below to enlarge.

There were 6,171 sales for the month of March 2009 and an average price of $362,052. Thus it was a pretty active month for sales, compared to 6,631 transactions in March 2008 a year ago and 8,518 sales for March 2007. So, it is the spring market and a lot more people are active this time of year.

Has the value of Toronto real estate fallen? Not really. We are up 0.2% in value for the month, from a month ago and down about 4.8% from the values of a year ago, down 9.1% from the market peak in May of 2008.

I'd say Toronto homes have done a good job of retaining value and should shoot-up as the general economy continues to recover. With interest rates at record low levels, it may be a good time to lock in to 5-year mortgages.


Let me know if you'd like more market information...
Ralph Evans
Sales Representative
RE/MAX Professionals Inc., Brokerage
Office 416 236-1241
Direct 416 577-5486
My website the RE/MAX RealEstateHelpDesk.ca

January 2009 Toronto Real Estate Market Statistics

The Toronto Real Estate Board reported sales for the month of January were 2,670 with the average price at $343,632.

This shows that the volume of homes being bought and sold is about half as many as were being traded a year ago at this time. The prices have declined by 4.9% from one month earlier and are now down by 13.7% from the market peak in May 2008.

Click on the chart for a larger version.

Toronto Real Estate Prices for December 2008

Here is my monthly Toronto real estate statistics review for the month of December 2008. The level of activity, or volume of sales was very low for the month of December. This is not really very surprising. Consumer confidence in the whole economy is down and people are holding-off making major purchases, with a home being the most major of them all! At the same time, December is traditionally the slowest month of the year for real estate sales. However, this year was still significantly below the level of last year.

On the pricing side, the average prices across the GTA declined by 1.9% from the month before. This is always a tricky number to nail down, given the fluctuations in the price ranges of homes being sold. More or less high-end homes can really skew this number. However a 1.9% price decline is probably fairly accurate read on the market place. This also puts us 9.2% below the market peak of May 2008.

So what does all this mean? Well we are firmly into a buyer's market. This is the time to be buying. There are lots of homes on the market to choose from, less competition from other buyers, more motivated sellers, great prices, super-low interest rates and a keen willingness from the banks to extend mortgages to people with jobs. For home sellers, there are good opportunities to sell a home so long as it is in the best condition and priced to the market. We are not seeing the multiple offer frenzy of a couple of years ago. Now any offer not matter how low is appreciated by home sellers.

Here is my monthly chart...



Be sure to check out my previous post, the 2008 annual review too!

Buying, selling investing - Ralph is here to help!
www.RealEstateHelpDesk.ca
Call me at 416 577-5486 or contact me at ralph@RealEstateHelpDesk.ca

2008 Toronto Real Estate Annual Statistics

The numbers are in for 2008. Here is a look at the really big picture! There were 74,552 home/condo sales in all of 2008 across the Greater Toronto area, as recorded by the Toronto Real Estate Board. This level of activity is well down from the volume of the prior couple of years. The average price over the whole year was $379,347 compared to the 2007 average of $376,236 - that's an increase of about 0.8%.

Here is a chart to put it all in perspective...

Toronto MLS Housing Statistics for October 2008

Today the Toronto Real Estate Board published the numbers for the Toronto home sales for the month of October 2008. The average selling price across the GTA was $352,974. This is down 4.2% from the monthly average the month before and down 11.3% at the peak of May 2008.

It is not surprising that there has been a pull back in the real estate market in Toronto, but certainly nothing like the decline the stock market has seen! Homes remain a very stable long-term investment. The number of sales is well below the volume recorded in past years for the month of October. Mostly, people are being cautious at this time. People who do not need to be selling their homes are not selling. They are happy to stay put and will make a move when market conditions improve. But this then has an effect of skewing the average sales price. Fewer high-end homes are selling. The overall mix of homes may be different and thus the average is impacted.

But then current market conditions provide an excellent opportunity to be a buyer. The supply of homes for sale is up and the number of bidding wars and multiple offers is way off. The buyers have much more control for setting the terms of negotiation.

It is also a good time for move-up buyers in the same market. If you are selling one house and buying another within the Toronto market you are still okay. You may lose some value on the sale of your existing home. But you get a good deal on your purchase and then if you are moving-up to a better home, it should appreciate more rapidly than the home you have moved from.

If you would like to discuss the current market conditions more or understand how this impacts your current situation, please give Ralph a call.

Toronto MLS Housing Statistics for September 2008

September's numbers are in. There were 6,866 homes sold across the GTA in the month and the average price was $368,549. While the financial markets are seeing big changes, the Toronto real estate market remains fairly steady. The volume of homes sold continues to track below last year's record volume. Price wise the September number is up 1.0% from the month before, but still 7.1% below the market peak of last October.

The current market conditions are considered to be "balanced", and present excellent opportunities for both buyers and sellers. There is a good supply of homes for sale for buyers to choose from, and the number of bidding wars is much less frequent. Home sellers need to ensure there homes look great and are priced competitively.

My approach for sellers is to work with them to prepare their homes for sale, completing necessary repairs and staging the home.

Toronto MLS Real Estate Prices for July 2008

The key numbers for the month ending July 31st 2008 was 7,806 home sales and an average price for all of the GTA of $371,427.

The Toronto Real Estate Board stated "Prices remained stable throughout the GTA in July. At $371,427 the average price increased slightly more than one per cent from $366,012 recorded in July 2007 and nine per cent from the $342,034 figure of two years ago."

Of course what they are saying is true, but how accurate a picture is this of what is happening to real estate prices in the Toronto area right now? July's numbers are the 4th month of monthly price declines. Toronto home values peaked in April and we are now 6.9% below that point, with most of the decline coming in the past month. In fact, July 2008 saw a decline of 6.2%. That is a pretty significant shift in prices for one month.

Real Estate treated as a long-term investment is always a good-buy at any time. In the long-term, the price appreciation is terrific. Its better to buy real estate and wait than to wait to buy real estate.

Here is my monthly chart...

Toronto Home Prices - Slight Decline

Here is my review of the Toronto MLS statistics for June 2008.

The official numbers were an average sales price of $395,866 and 8,600 transactions for the month. Okay, so what does that mean? Thus we have had a slight decline in home values for the past two months. A decline of 0.1% in May and 0.6% in June. However on a year over year basis, Toronto home prices remain 3.6% above where we were in June of 2007.

So, the volume of activity is off from the record levels of 2007, but there are still 8,600 homes changing hands. That's pretty active!

Real Estate agents are expecting a modest cooling of the Toronto market, but don't wait for anything really significant. Toronto is not about to have any huge decline like we have seen in the states these past few years. The market is becoming more balanced between buyers and sellers. Keeping in mind that real estate is a long term investment, this market is good for both buyers and sellers.

Here is the chart for the 18 months to the end of June 2008


Whole report is available here

Toronto Real Estate Values - Hold Steady

The Toronto Real Estate Board (TREB) released the monthly statistics for the Toronto market today. They reported that the average sales price for May was $398,148 across the whole GTA. Volume of sales was 9,411.

Prices held steady with just a 0.1% decline from the month before. The number of sales has risen every month this year and May was no exception, however the monthly number is still below last year's record pace of sales.

Here is the chart I produce each month to assist my clients in better understanding the market forces

The whole report is avaliable here