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"Real
Estate Bits"
September 2008
Market Update
Over 6000 Sales in August
TREB Members reported 6318 sales in August. “The 2008 Toronto summer market is ending on a solid pace”, noted TREB President Maureen O’Neill. Sales were down 22% from the record-breaking August 2007 figure of 8059 single family dwellings, but were off only 9% from the more typical figure of 6976 sales recorded in August of 2006.
This sales decline did not occur uniformly across the GTA. Units transacted within the City of Toronto at 2437 were down 25% from the 3243 recorded in August of 2007, while down only 10% from the 2706 figure in August 2006. Meanwhile sales within the 905 area came in at 3881 – down 19% from 2007’s 4816, but down only 9% from the August 2006 figure of 4270.
Prices increased marginally in August, with the overall average moving up 1% to $364,886 from the $361,890 seen last August, and up 8% from the $339,192 reported in August of 2006.
Once again, however, price movements varied depending on area. Within Toronto proper, the average actually fell by 1% to $377,990 from last August’s $381,681, although it was up 10% from the $344,419 recorded during the same month in 2006. Outside of the city, on the other hand, prices rose 2% to $356,657 from the $348,563 seen in August of 2006. Prices were also up 7% from the $334,245 seen in August of 2006.
A Breakdown Of The Total Sales Is As Follows:
|
|
TREB's - 28 West Districts had: |
2494 sales |
With an average of - $346,285 |
|
TREB's - 14 Central Districts had: |
1091 sales |
With an average of - $436,120 |
|
TREB's - 23 North Districts had: |
1246 sales |
With an average of - $419,694 |
|
TREB's - 21 East Districts had: |
1487 sales |
With an average of - $297,896 |
Average Days On Market in August 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 |
Web-Site Of Interest
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Container Gardening Specialist In Every Season
Complimentary Consultations
Mortgages
Rates As Of September 15,
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 October 1, 2008 |
|
2 Year Closed |
5.55% |
|
3 Year Closed |
5.54% |
|
3 Year Ultimate Rate |
Prime minus .25% - Cap Rate is
6.69%
|
|
4 Year Closed |
5.44% |
|
5 Year Closed |
5.46% |
|
5 Year Flex Value |
Prime minus .50% |
|
7 Year Closed |
5.75%
|
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
Martin Gladstone LLB
579 Kingston Road Suite #111
Toronto, Ontario M4E 1R3
Real Estate – Wills – Estate Planning – Trade Mark Law Entertainment Law & Music Licensing
(416) 693-9000
www.gladstonelaw.ca martin@gladstonelaw.ca
Home Inspection Companies
Just for Fun...
Really, Really Bad Jokes
Working people frequently ask retired people what they do to make their days interesting. Well, the other day the wife and I went into town and went into a shop. We were only in there for about 5 minutes. When we came out, there was a cop writing out a parking ticket. We went up to him and I said, “Come on man, how about giving a senior citizen a break?” He ignored us and continued writing the ticket. I called him a dumb ass. He glared at me and started writing another ticket for having worn tires. So Diane called him a twit.
He finished the second ticket and put it on the windshield with the first. Then he started writing a third ticket. This went on for about 20 minutes. The more we abused him, the more tickets he wrote. Just then our bus arrived. We try to have a little fun each day now that we're retired and are no longer so busy. We think that it’s really, really important at our age to stay active. Wouldn’t you agree?
In Rosedale (part of C09) there have been 29 sales recorded this year. All 29 sales were of detached homes, which averaged $2,336,472. This is up 6% from the $2,203,457 recorded during the first 8 months of 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
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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
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new
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your consent must be given
(either implicitly or explicitly) to receive these
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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 |
