toronto real estate statistics august 2011

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Toronto Real Estate Market Statistics for August 2011. Focus on East End Toronto Homes and East End Toronto Real Estate. The Beaches, Riverdale, Leslieville, Danforth Village, East Danforth, Danforth Mosaic

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  • 1. For All TREB Member Inquiries: (416) 443-8152 For All Media/Public Inquiries: August 2011 (416) 443-8158Economic Indicators Strong August Home Sales in the GTA Total TorontoMLSReal GDP Growthi Toronto, September 7, 2011 Greater Toronto REALTORS reported 7,542 Sales Activity1,7 Q2 2011 u -0.4% sales through the TorontoMLS system in August a 24 per cent increase over 6,083 sales in August 2010. New listings, at 12,509, were up by 20 per centToronto Employment Growthi i compared to August 2010. Market conditions remained tight as sales growth outstripped growth in new listings. July 2011 t 1.7% "Home sales in the GTA have stood up well despite a less certain economic outlook,"Toronto Unemployment Rate said Toronto Real Estate Board President Richard Silver. "Home sales will be July 2011 u 8.3% bolstered by low mortgage rates moving forward. The Bank of Canada is expected 7,542 to be on the sidelines until the second half of 2012 or even into 2013. However, ii 6,083Inflation (Yr./Yr. CPI Growth) home ownership affordability in the City of Toronto could be further improved with July 2011 u 2.7% the removal of the Citys land transfer tax. This tax currently represents a substantial upfront cost for home buyers. iiiBank of Canada Overnight Rate With market conditions remaining tight in the GTA, the average selling price August 2011 q 1.0% continued to grow strongly in August up by more than 10 per cent year-over-year to $451,663. August 2011 August 2010 ivPrime Rate "We remain on pace for the second best year on record for sales. Approximately August 2011 q 3.0% 90,000 transactions are expected by the end of December," said TREBs Senior iv Manager of Market Analysis Jason Mercer. "Major home ownership costs, includingMortgage Rates (August 2011) the average monthly mortgage payment, remain affordable despite the strong priceChartered Bank Fixed Rates growth experienced so far this year." TorontoMLS 1 Year q 3.50% Sales & Average Price By Major Home Type 1,7 Average Price1,7 3 Year q 4.35% 5 Year q 5.39% August 2011Sources and Notes: Sales Average PriceiStatistics Canada, Quarter-over-quarter 416 905 Total 416 905 Totalgrowth, annualized $451,663 Detached 892 2,597 3,489 $648,491 $531,458 $561,379 $409,564ii Statistics Canada, Year-over-year growth Yr./Yr. % Change 35% 24% 27% 10% 10% 10%for the most recently reported month Semi-Detached 281 541 822 $488,866 $373,990 $413,260iii Bank of Canada, Rate from most recent Yr./Yr. % Change 12% 30% 24% 5% 9% 6%Bank of Canada announcement Townhouse 303 779 1,082 $377,807 $337,512 $348,796iv Bank of Canada, rates for most recently Yr./Yr. % Change 18% 11% 13% 7% 10% 9%completed month Condo Apartment 1,393 593 1,986 $364,437 $270,740 $336,460 August 2011 August 2010 Yr./Yr. % Change 24% 28% 25% 11% 8% 10%
  • 2. Toronto Real Estate BoardSALES BY PRICE RANGE AND HOUSE TYPE1,7 Industrial Leasing AUGUST 2011 Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total$0 to $99,999 3 0 0 3 16 0 0 0 0 22$100,000 to $199,999 79 11 3 76 260 1 5 0 1 436$200,000 to $299,999 318 88 100 214 709 30 1 3 3 1,466$300,000 to $399,999 652 349 188 226 570 33 3 2 1 2,024$400,000 to $499,999 701 253 134 38 250 54 1 3 0 1,434$500,000 to $599,999 608 64 35 21 101 17 0 0 0 846$600,000 to $699,999 428 26 12 10 25 5 0 0 0 506$700,000 to $799,999 244 16 7 3 20 0 0 0 0 290$800,000 to $899,999 159 4 3 4 6 0 0 0 0 176$900,000 to $999,999 86 2 1 1 3 0 0 0 0 93$1,000,000 to $1,249,999 97 5 2 0 9 0 0 0 0 113$1,250,000 to $1,499,999 55 4 0 0 8 0 0 0 0 67$1,500,000 to $1,749,999 26 0 0 1 4 0 0 0 0 31$1,750,000 to $1,999,999 5 0 0 0 0 0 0 0 0 5$2,000,000 + 28 0 0 0 5 0 0 0 0 33Total Sales 3,489 822 485 597 1,986 140 10 8 5 7,542Share of Total Sales 46.3% 10.9% 6.4% 7.9% 26.3% 1.9% 0.1% 0.1% 0.1% -Average Price $561,379 $413,260 $391,818 $313,846 $336,460 $400,206 $240,500 $354,169 $243,500 $451,663SALES BY PRICE RANGE AND HOUSE TYPE1,7 YEAR-TO-DATE, 2011 Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total$0 to $99,999 24 1 5 36 155 0 11 0 4 236$100,000 to $199,999 561 161 60 619 2,311 15 40 2 15 3,784$200,000 to $299,999 2,697