Monday, September 20, 2010

Toronto and GTA first half results for September 2010 Housing Figures for resale homes

Sales for the first half of September 2010 are slightly better compared to first two weeks of September 2009. Prices are up 5% compared to the same period, thus we seem to be experiencing a healthy marketplace this year, regardless of the negative press.

Full report with sales stats are below

All the best,

Mark

GTA REALTORS(r) Report Mid-Month Resale Housing Figures

TORONTO, September 16, 2010 ‐ Greater Toronto REALTORS(r) reported 2,623 sales through the Multiple Listing Service(r) (MLS(r)) during the first two weeks of September 2010. This represented a 22 per cent decrease compared to the 3,361 sales recorded during the same period in 2009. Year-to-date sales amounted to 65,455, representing a six per cent increase compared to 2009.

"Sales remain below the record pace we experienced in the second half of 2009. The prospect of higher interest rates and new mortgage lending guidelines resulted in higher than normal sales in the first few months of the year.

To balance this out, the pace of sales has slowed in the second half," said Toronto Real Estate Board President Bill Johnston.

"It is important to note that year-to-date sales remain above the number reported through the same period last year," added Johnston.

The average price for September mid-month transactions was $412,367 - up five per cent compared to the average of $393,818 recorded during the first 14 days of September 2009.

"Under current lending standards, the average selling price is affordable for a household earning the average income in the GTA. The annual price growth we have been experiencing has been justified by this positive affordability picture," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Summary Of September Sales And Average Price

September

2010 2009

Sales Average Price Sales Average Price

City of Toronto ("416") 978 $435,643 1,280 $415,126

Rest of GTA ("905") 1,645 $398,529 2,081 $380,712

GTA 2,623 $412,367 3,361 $393,818

Source: Toronto Real Estate Board

Sales & Average Price By Home Type

September‐2010

Sales Average Price

416 905 Total 416 905 Total

Detached 312 919 1,231 621,706 476,329 513,326

Yr./Yr. % Change ‐22% ‐22% ‐22% 8% 6% 7%

Semi‐Detached 102 195 297 460,878 339,515 381,195

Yr./Yr. % Change ‐29% ‐14% ‐20% 0% 3% 0%

Townhouse 99 287 386 402,683 298,204 325,000

Yr./Yr. % Change ‐35% ‐28% ‐30% 14% 1% 5%

Condo Apartment 457 203 660 311,897 247,145 291,981

Yr./Yr. % Change ‐20% ‐11% ‐17% 0% 2% 0%

Source: Toronto Real Estate Board

I hope this finds you Happy and Healthy!

All the Best!

Mark

A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
BUS 905-828-3434
FAX 905-828-2829 CELL 416-520-1577
mark@mississauga4sale.com
Mississauga4Sale.com

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