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Toronto sales down - average price up
GTA Realtors Report On September Resale Housing Market
Greater Toronto Realtors reported 6,310 sales through the Multiple Listing Service® (MLS®) in September 2010. This represented a 23% decrease compared to the 8,196 sales recorded during the same period in 2009. Through the first nine months of the year, sales amounted to 69,069 – up 4% compared to the first three quarters of 2009.
“The level of sales in the second half of 2010 has been lower, representing a balancing out period following record levels of sales in the latter half of 2009 and first few months of 2010. We remain on track for one of the best years in history for existing home transactions in the GTA,” said Toronto Real Estate Board President Bill Johnston.
The average price for September transactions was $427,329– up five per cent compared to the average of $406,877 reported in September 2009. The average selling price through the first nine months of the year was $429,657. “Resale homes in the GTA remain affordable,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
“It is important to consider the positive impact of declining mortgage rates over the past two decades. Simply considering home prices relative to incomes does not allow for an accurate analysis of affordability,” continued Mercer. “The share of average household income going toward a mortgage payment on the average priced home in the GTA remains within accepted lending guidelines. This is why the average home selling price has continued to grow.”
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October 5, 2010 in Toronto Real Estate Board | Permalink
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Comments
Alpine is a convergence situated in the eastern province of San Diego Constituency surrounded by the disorder of California.
Posted by: Sell My House Quickly | Oct 20, 2010 1:23:19 PM
Wow , look at all the realtors here blowing sunshine. The fact is sales are down as well as prices. I've seen my area fall in price by $40,000 since May. In the C6 area (good area) $600,000 homes can be bought now for $500,000. The media continue to lie for realtors who manipulate stats. I wish the RE market was hot. Been trying to sell to anyone who is stupid enough to buy.
Posted by: Larry | Oct 19, 2010 3:13:09 PM
Durjab,
So your premise is that immigrants come with boat load of money. Why would they be immigrating in the first place?
Posted by: Behavioral Finance | Oct 18, 2010 9:54:17 PM
LOL, oh boy, that's quite a little 'debate' going on. Nevertheless, prices going up can be a reflection of less distressed properties on the market. How is financing in Canada right now?
Posted by: Alex Cortez | Oct 18, 2010 12:05:37 AM
I don't know from where your information collected.
But the good area continue to grow because of real state rule: "location,location,location".
Immigration continue to come to canada 250 000 each year - so there is no reason for prices down.Like on year 2000 people say prices to high - they stay on rent and houses prices grow almost 100% since then.
so to buy or sell house is a big decision...
Posted by: Durjab | Oct 16, 2010 12:54:32 AM
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