Almost 7,000 Sales in October -- Market Watch November 3, 2006 --
The Toronto Residential market put in another solid performance in October, with 6,876 homes changing hands through the TMLS system, TREB President Dorothy Mason announced today. "This is up about four per cent over September's 6,622 figure. And, though it has moderated slightly from October of 2005, we are still looking at an annual total of well over 80,000 homes transacted. This is a very healthy, active market."
Housing market stability continues
November 3, 2006 -- Toronto resale housing activity remained strong in October, as 6,876 homes changed hands during the month, Toronto Real Estate Board President Dorothy Mason announced today.
"The market has shown strong overall numbers despite having normalized from record activity," Mrs. Mason said. "Year-to-date figures show this year within one and a half per cent of 2005's record pace, and October sales were four per cent higher than September's, indicating a solid autumn market."
In The Beach neighbourhood of Toronto (E02), overall sales were 45 per cent higher than October 2005, led by a large increase in semi-detached housing transactions.
A jump in condominium activity in Rexdale (W10) contributed to 23 per cent more overall transactions in October, compared with October of a year ago.
Outside the city, Richmond Hill North (N05) showed an overall increase of 32 per cent compared to last October, with detached homes the most common housing type.
Jason Mercer, CMHC's Senior Market Analyst for the Greater Toronto Area, noted that the GTA's stable housing market benefits from solid economic conditions overall.
"The annual rate of existing home sales remains near record levels," Mr. Mercer said. "Home buyers remain confident in their ability to purchase and pay for a home, due to steady growth in jobs and relatively low borrowing costs."
The average price of a home in the GTA in October was $356,423, two per cent higher than September and four per cent higher than October 2005.
Prices and activity are very consistent," TREB's President said. "This indicates that the market is firmly anchored on a solid foundation. It's a great time to take advantage of all the choice in the marketplace."
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Save the Planet and Environment
A two-storey detached home loses 20% more heat than a semi-detached one and 50% more than a middle home in a row of townhouses of the same size with the same heating system, insulation and windows.
The costs to service a house (build and maintain roads, water systems, etc.) are higher in spread-out and new areas than in compact and built-up ones.
The Heart and Stroke Foundation of Canada recommends at least 30 minutes of exercise every day, like walking or biking, to reduce the risk of obesity, heart disease and stroke. Where homes are within walking distance of stores and other services, people are 2.4 times more likely to meet the 30-minute minimum than those in homes that are not within a convenient or pleasant walk to stores/services.
First half of February 2007 Market Report
TORONTO, February 20, 2007 -- Toronto Real Estate Board Members reported 3,240 sales during the first half of February, within two per cent of last February's pace, TREB President Dorothy Mason reported today.
"This is very solid performance in line with some of the strongest results we've had, especially given the record January we just experienced," Mrs. Mason said. "Consumers are showing that the colder months are a great time to get in to the market or make a switch to a different home."
Mrs. Mason noted that the overall health of the market is very good.
"Activity is accelerating nicely as we move towards spring," Mrs. Mason said. The first half of February saw nearly 80 per cent more transactions than the first half of January, and that bodes well for the next few months."
The average price of a resale home climbed in the first half of February, registering at $358,533, up three per cent from the $348,804 recorded during the same timeframe last year. Meanwhile, days on market rose to 35 from 34 in February 2006, and the average list-to-sale price ratio remained stable at 98%.
Toronto's Riverdale neighbourhood (E03) saw overall transactions increase by 38 per cent compared to mid-February of last year, fueled by strong sales of townhomes.
Detached homes were the most popular housing type in Mississauga's Cooksvile / Port Credit neighbourhood (W12) as overall sales to mid-month beat last year's pace by 25 per cent.
Brisk sales of condominiums pushed Willowdale (C07) to an overall sales increase of 26 per cent compared to mid-February of 2006.
North of Toronto, Richmond Hill South (N03) saw 25 per cent more transactions to mid-February than were recorded in the same timeframe last year.
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