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"Real
Estate Bits"
October 2008
Market Update
GTA Re-Sale Housing Prices And Sales
Are Measured In September
TREB Members reported 6424 sales of single family dwellings in September – down about 6% from the 6866 sales recorded during September last year. However the 6424 sales reported for September 2008 is down just 3% from the 6622 figure recorded in 2006. To help keep things in perspective, September 2007’s 6866 sales was the second best figure ever recorded for that month.
The overall transaction figure for September masks significant regional differences. Within the city of Toronto sales registered 2546 – down 11% from the 2854 figure recorded in September 2007 but down only 5% from the 2680 sales reported in September 2006.
In the 905 suburbs, the 3878 sales that went through the Toronto MLS system were down 3% from last year’s 4012 sales and down 2% from the 2006 total of 3942 sales.
Overall – GTA prices declined 3% from their year ago levels to an average of $368,549 from the September 2007 figure of $380,132. As with sales, the GTA’s regions fared quite differently on average prices during the month.
The average within The City of Toronto, at $393,647 fell 6% from September 2007’s $420,182 but rose 6% from the $371,682 reported in the same month in 2006.
Meanwhile, in the 905 suburb September’s price of $352,071 was marginally higher than the $351,641 recorded in September 2007 and was up 5% from the September 2006 figure of $333,818.
A Breakdown Of The Total Sales Is As Follows:
|
|
TREB's - 28 West Districts had: |
2539 sales |
With an average of - $352,249 |
|
TREB's - 14 Central Districts had: |
1067 sales |
With an average of - $464,397 |
|
TREB's - 23 North Districts had: |
1220 sales |
With an average of - $407,424 |
|
TREB's - 21 East Districts had: |
1598 sales |
With an average of - $300,772 |
Average Days On Market in September was 36
Year-Over-Year Sales and Price Comparison
| Year-2007 |
# of Sales |
Average Price |
| |
|
|
| January |
5173 |
$353,724 |
| February |
6772 |
$368,687 |
| March |
8518 |
$365,285 |
| April |
9452 |
$379,025 |
| May |
11,146 |
$382,787 |
| June |
10,451 |
$381,963 |
| July |
8912 |
$366,012 |
| August |
8059 |
$361,890 |
| September |
6866 |
$380,132 |
| October |
7915 |
$394,646 |
| November |
7313 |
$393,747 |
| December |
4646 |
$394,931 |
| |
|
|
| Total |
93,193 |
$376,236 |
| |
|
|
| Year-2008 |
# of Sales |
Average Price |
| |
|
|
| January |
5075 |
$374,449 |
| February |
6015 |
$382,084 |
| March |
6631 |
$380,338 |
| April |
8762 |
$398,687 |
| May |
9411 |
$388,839 |
| June |
8600 |
$394,931 |
| July |
7806 |
$371,427 |
| August |
6318 |
$364,886 |
| September |
6424 |
$368,549 |
Web-Site Of Interest
https://www.lnnte-dncl.gc.ca/
The “Do Not Call” registry became effective on September 30, 2008. You can register your phone numbers at the site above.
Mortgages
Rates As Of October 14,
2008
Nino will guarantee these
rates for 120 days for any "confirmed" client of Rosemary Wright if
you bring this newsletter with you!
These "Preferred Rates" are available for new
mortgages for any of my clients who bank with Nino Pasquariello,
Senior Bank Manager of Scotiabank & Trust. Nino's office is located
at 2200 Yonge Street (at Eglinton) in Toronto.
(Bus): 416-932-3885
#7000 (Fax): 416-932-3167
E-Mail:
nino.pasquariello@scotiabank.com
Scotiabank Web-Site:
www.scotiabank.com
Find The Best Way To Use "Your" Money
|
6 Month Open |
8.20%
|
|
6 Month Convert |
5.35% |
|
1 Year Open |
8.40% |
|
1 Year Closed |
4.70% -
Until November 1, 2008 |
|
2 Year Closed |
5.55% |
|
3 Year Closed |
5.89% |
|
3 Year Ultimate Rate |
Prime 4.75% - Cap Rate is
7.04%
|
|
4 Year Closed |
5.79% |
|
5 Year Closed |
5.81% |
|
5 Year Flex Value |
Prime 4.75% |
|
7 Year Closed |
6.10%
|
We
are unable to guarantee the rate on the Prime Based Variable
Rate products. Rates will be based on Prime at the time of
the mortgage closing. We are able to guarantee the Cap Rate
on the 3 Year Ultimate Rate Mortgage for 120 days from the
date of your application. Please call Scotiabank for more
details on our 5 Year “Flex Value” products.
Business Of The Month
Lucaffe Ltd.
798 Queen Street East
Toronto, Ontario M4M 1H4
A Great Place To Drop In For Coffee & A Treat
When You’re Brousing In Leslieville
(416) 461-2400
www.lucaffe.ca info@lucaffe.ca
Home Inspection Companies
Just for Fun...
Really, Really Bad Jokes
Don’t Worry About Your Money!
A New Dollar Bill
Has Been Issued South Of The Border By
The U.S. Treasury Department
In the first 9 months of 2008, 1017 sales have been recorded in East York (E03) These sales averaged $370,622 – up 6% over last year’s $348,881. Detached homes averaged $437,712 – up 8% over the $404,314 price recorded during the same nine month period in 2007. Semis averaged $412,378 – up 6% from the $388,595 recorded from January to September in 2007
Business Referrals
Client & Networking referrals are the foundation of a
successful real estate sales representative's career. Over many years in
this industry I have enjoyed the confidence and repeat
business of my clients. I appreciate your on-going support
and want you to know that I will always look after friends
and colleagues you refer to me with professionalism, care
and respect.
Rosemary Wright
Sales Representative
Sutton Group-Bayview Realty Inc., Brokerage
Independently Owned & Operated
(Bus): (416) 483-8000
(Fax): (416) 463-0159
WebSite:
www.rosemarywright.com
E-Mail:
mail@rosemarywright.com
Direct
Page: (416) 582-1216
"Professional Service With A Personal Touch"
T his newsletter is never sent unsolicited. If you wish to
be removed, please reply to this
E-Mail with the words "Remove from Newsletter" in the
subject line or call me at
(416) 483-8000 to request removal.
The intent of the newsletters - "Real Estate Bits" &
"Real Estate Bits - 2" is to provide information to you
regarding real estate. Personal details such as your
name, contact information and address are never revealed
to anyone without your consent. In accordance with the
new
Privacy Act,
your consent must be given
(either implicitly or explicitly) to receive these
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- please notify me. My newsletters are not
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under contract with any Broker.
The information and opinions contained, statistics and
articles are courtesy of TREB, CMHC or other individuals
or companies and are believed to be reliable, but their
accuracy is not guaranteed. Sutton Group-Bayview Realty
Inc., Brokerage and Rosemary Wright accept no
responsibility whatsoever for any loss arising from any
use or reliance on the accuracy and timeliness of the
information contained herein. Every endeavour is made to
ensure accuracy. These newsletters do not render
financial, legal, accounting, home inspection or
professional advice. They are for general educational
purposes only. They do not offer do-it-yourself advice.
We encourage you to always contact the appropriate
professionals or specialists to address your individual
needs.
E&OE |
