Friday, January 09, 2009

TREB Real Estate results for December 2009 - Great Year

Toronto Real Estate Board (TREB) Average Prices and Graph You can see that 2009 was a good year for real estate. It began with a bang and ended with a wimper, but overall the prices and activity were very high. Most are anticipating that the average prices may fall about 3 to 5% in 2009. Of course, only time will tell, but our market is still quite strong and activiy during this first week of 2009 has been up compared to the past 2 months, from my perspective.

Read the full report and analysis of the results with graphs of prices and trends at this page:

This is what TREB reported today:

2,500 Sales in December, 74,000 in 2008

TORONTO - Friday, January 9, 2009 -- TREB Members reported 2,577 sales inDecember 2008, compared to the 4,646 recorded during the same month in 2007, andthe 4,447 recorded in December 2006, TREB President Maureen O’Neill announced today.“Sales for the whole of 2008 were 74,552, compared to the 93,193 recorded in 2007,and the 83,084 recorded during 2006.”

The average price in December of 2008 came in at $361,415, compared to $394,931 lastyear, and $336,217 in December of 2006. For 2008 as a whole, prices averaged $379,347,compared to the $376,236 recorded in 2007, and the $351,941 average recorded in 2006.

The City of Toronto (416) recorded 1,105 sales in December, compared to 2,302 in December 2007 and 1,827 in December of 2006. For all of 2008, there were 29,878 sales, compared to 39,052 in 2007 and 34,404 in 2006.

The average price in the city was $387,482 compared to the $425,842 recorded inDecember of 2007 and the $350,139 recorded in December 2006. For all of 2008 the average was $410,271. In 2007 the comparable figure was $412,480, and in 2006 $378,776.

The 905 area saw 1,472 sales in December, from 2,344 in December of 2007 and 2,620 inDecember of 2006. For all of 2008, there were 44,674 sales in this region, versus 54,141 in2007 and 48,680 in 2006.

The average price in the 905 was $341,847 in December, compared to $360,307 in 2007and $326,509 in 2006. For all of 2008, the average was $358,665, as compared to$350,092 in 2007 and $332,976 in 2006.

Breaking down the total, 993 sales were reported in TREB’s 28 West districts andaveraged $338,855; 473 sales were reported in the 14 Central districts and averaged$479,095; 491 sales were reported in the 23 North districts and averaged $381,975; and620 sales were reported in TREB’s 21 East districts and averaged $291,488.

Median Price

The median price for December was $305,000, compared to $320,950 in 2007 and $290,000 in 2006. For all of 2008, the Median was $325,000, as opposed to 320,950 in 2007 and $299,000 in 2006.

That's it, I will post more information and update my graphs shortly!



I hope this finds you healthy and happy and I wish you and your family all the best in 2009!


For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1

BUS. 905-828-3434
FAX. 905-828-2829

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