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Toronto Real Estate Board reports:
GTA sales down 35%; Toronto down 38%
Toronto Real Estate Board Members reported 5,155 sales in October, down 35 per cent from the 7,915 sales reported in October of 2007, and also down 25 per cent from the 6,876 sales reported during October 2006. Within the City of Toronto, 2,136 sales were recorded. This was down 38 per cent from the 3,455 sales recorded in October of last year. In the 905 suburbs, however, the 3,019 sales recorded were down 32 per cent from October 2007's figure of 4,460.
GTA-wide, prices declined 10 per cent to $352,974 from last October's average of $394,646. They were down one per cent over the average recorded in October 2006 of $356,423. As with sales, price declines differed according to region.The City of Toronto average was $376,896, down 13 per cent from the $434,022 recorded during the same month in 2007, and down about three per cent from the $386,807 recorded in October 2006. Meanwhile, the average for the City's 905 suburbs was $336,049.This is down eight per cent from the $364,142 recorded last October, and up one per cent from the $333,166 recorded in October 2006.
Breaking down the total, 2,064 sales were reported in TREB's 28 West districts and averaged $335,329; 892 sales were reported in the 14 Central districts and averaged $450,437; 946 sales were reported in the 23 North districts and averaged $382,032; and 1,253 sales were reported in TREB's 21 East districts and averaged $290,719.
NEIGHBOURHOOD CORNER
Agincourt
The dominant house types sold within Agincourt (parts of districts E05 and E07) are detached and semi-detached.ÊFor detached homes, the average was $403,597 in 2008 to-date, up seven per cent over last year's figure of $376,047. Semis averaged $321,943, up three per cent over the $313,337 recorded during the first ten months of 2007.
November 5, 2008 in Toronto Real Estate Board | Permalink
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Comments
even though the site is down hope the rating will be back on top
Posted by: first time buyers | Nov 26, 2008 5:23:49 AM
Good analysis. I have posted the same sad numbers for toronto for october.
Posted by: chris | Nov 11, 2008 12:09:04 AM
Do RE and all related ppl. have EI ? Or enough savings to weather the Big Storm ? Afraid there going to be "no help needed" in burger joints .
Posted by: goblin | Nov 9, 2008 7:28:21 PM
Jack, are you living under a rock?
Seriously, it's over, and the sooner you come to terms with it, the better off you'll be.
Even though central banks are cutting rates, mortgage rates are not dropping as institutions are pricing in a lot more risk into their lending...that is, IF they are lending. The effect of this will be to put even more downward pressure on prices.
All you realtor-types who come on here with your never ending optimism and delusions of grandeur trying to advertise your services to the few remaining clueless sheep never ceases to amaze me.
I guess it's the same optimism that keeps the Maple Leafs fans going!
How, with any sense of good conscience, could you put families into houses which will fall in value by 30% and leave them on the verge of bankruptcy?
The time of making a living off of other people's misery is coming to an end. I hope you are prepared to flip burgers.
Posted by: Toronto Bear | Nov 9, 2008 1:50:40 AM
The CMHC Housing Market Outlook is worth reading and it's also a little encouraging.
Posted by: Jack Dulat | Nov 7, 2008 9:44:07 PM
Excellent blog you have. I would like to exchange blogroll links. Are you interested?
Thanks,
Joe.
Posted by: Joe Scalabrelli | Nov 6, 2008 3:52:18 PM
Sweeeeeeet!
Keep the carnage coming.
Posted by: S | Nov 5, 2008 11:34:22 PM
