Vaughan real estate sales dip; Prices rise
While snow fell in almost record amounts, Toronto Real Estate Board Members recorded a respectable 6,015 sales during the month of February, TREB President Maureen O’Neill announced today.
“While sales were down over 2007 (11 per cent), they are in line with historical levels for the month, and they should increase substantially as the GTA eases into Spring.”
Prices rose in February, with the average climbing to $382,048, up four per cent from the $367,687 recorded in February of last year. Days-on-Market stood at 30 days, and the list-to-sale price ratio was 99 per cent.
In Vaughan, the real estate trends were ever more dramatic. In Vaughan District (N08), the average number of months’ inventory (Active Listings to Total Sales ratio) as at February was 3.3. The total number of sales for February was down 15.8% compared to the same period in 2007. Average price however, was up 13.7% from February 2007.
Activity within the City of Toronto generally matched that of the broader GTA. Sales moderated 14 per cent in the city to 2,310 from last year’s figure of 2,697. Prices rose two per cent to $424,235.
Breaking down the total, 2,358 sales were reported in TREB’s 28 West districts and averaged $357,884; 1,017 sales were reported in the 14 Central districts and averaged $522,480; 1,185 sales were reported in the 23 North districts and averaged $409,155; and 1,455 sales were reported in TREB’s 21 East districts and averaged $300,975.
Click HERE for a complete copy of TREB February Market Watch
Vaughan 2007 residential real estate sales recap
Average sale price in Vaughan (MLS District N08) for 2007 was $441K (2006 - $417K) resulting in an average selling price increase of 5.8%.
Combined condo (Apartment & Townhouse) average sale price was $299K in 2007 (2006 - $269K) resulting in an average selling price increase of 11.0%. Condo apartments alone resulted in an average sale price for 2007 of $298K in 2007 (2006 - $260K) resulting in a staggering increase of 14.6% year over year.
The results bode well for Condominium developers for 2008 as the trend toward contemporary, affordable and maintenance-free living continues its momentum in the GTA.
Best wishes for a healthy and prosperous New Year.
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Source: Toronto Real Estate Board
Record breaking December Real Estate Sales
The Greater Toronto resale home market reached two new heights during the first half of this month Toronto Real Estate Board President Maureen O’Neill announced today.“The 2,868 transactions recorded during the first two weeks of December have made this the first year that sales have exceeded 90,000,” said Ms. O’Neill.
This activity also represents a 3 per cent increase over the 2,783 sales recorded during the first two weeks of December 2006. Read more
Record November Sales and Record Year
A record-breaking November saw 7,313 sales, driving year-to-date totals to 88,695 sales, TREB President Maureen O’Neill announced today. “We have already exceeded the 84,145 sales recorded during 2005, which was our previous record,” said the President. “By the end of December we will have crossed the 90,000 sales mark for the very first time. As 2007 winds down, the GTA resale home market is looking as healthy as it has ever been.”
Prices were almost unchanged in November, with the average at $393,747, down marginally from the $394,646 recorded in the previous month. It was up 11 per cent over the $355,727 recorded during November 2006. Meanwhile, days-on-market came in at 32, and the list-to-sale price ratio was 98 per cent. Read more
Toronto Real Estate Board Sold Statistics (October 2007)
Greater Toronto Area resale housing activity set a new record for the month of October according to the Toronto Real Estate Board.
With 7,915 transactions, activity was up 10 per cent over the previous best for the month, set in 2003. Sales were also up 15 per cent over last October.
October’s strong performance has pushed year-to-date activity 12 per cent ahead of last year. Read more
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