TORONTO, August 17, 2010 - Greater Toronto REALTORS reported 2,732 sales through the Multiple Listing Service (MLS) during the first two weeks of August 2010.
This represented a 29 per cent decrease compared to the 3,832 sales recorded during the same period in 2009. New listings, at 4,770 were down eight per cent compared to the first two weeks of August 2009.
“Throughout the better part of the last year, the number of monthly sales was well above the expected long-term trend. Accordingly, it makes sense that the number of transactions has dipped over the past few months in comparison to last year’s record results,” said TREB President Bill Johnston.
The average price for August mid-month transactions was $412,934 – up eight per cent compared to the average of $383,796 recorded during the first 14 days of August 2009.
“We have seen a sufficient number of buyers relative to sellers over the summer months to support continued year-over-year price growth in the GTA,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
Tuesday, August 17, 2010
Sales and New Listings Down, Average Price up in July
August 5, 2010 -- Greater Toronto REALTORS® reported 6,564 sales in July – a 34 per cent dip from the record 9,967 sales reported in July 2009. New listings, at 10,825, dropped to the lowest level for the month of July since 2002.
"The level of July sales remained below the expected long-term trend. The market has become more balanced following record monthly sales through most of the winter and early spring," said Toronto Real Estate Board (TREB) President Bill Johnston.
Total sales through the first seven months of 2010 were up 12 per cent compared to the same period in 2009.
Notwithstanding the fact that price trends vary at the neighbourhood level in GTA, the average price for July transactions was $420,482, representing a six per cent increase over July 2009. Over the first seven months of 2010, the average selling price was up 12 per cent annually to $432,253.
"Market conditions promoting growth in the average selling price have remained in place. While July sales were down compared to last year, the number of new listings in the marketplace also fell. This means there was enough competition between buyers to exert upward pressure on price," said Jason Mercer, TREB's Senior Manager of Market Analysis.Median PriceIn July, the median price was $361,000, from the $339,900 recorded during July of 2009.
"The level of July sales remained below the expected long-term trend. The market has become more balanced following record monthly sales through most of the winter and early spring," said Toronto Real Estate Board (TREB) President Bill Johnston.
Total sales through the first seven months of 2010 were up 12 per cent compared to the same period in 2009.
Notwithstanding the fact that price trends vary at the neighbourhood level in GTA, the average price for July transactions was $420,482, representing a six per cent increase over July 2009. Over the first seven months of 2010, the average selling price was up 12 per cent annually to $432,253.
"Market conditions promoting growth in the average selling price have remained in place. While July sales were down compared to last year, the number of new listings in the marketplace also fell. This means there was enough competition between buyers to exert upward pressure on price," said Jason Mercer, TREB's Senior Manager of Market Analysis.Median PriceIn July, the median price was $361,000, from the $339,900 recorded during July of 2009.
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