Market Watch - February 2008
  

(Real Estate) Market Watch - February 2008

Many of my clients want to know what the future holds for the real estate market. The questions I am asked by both sellers and buyers are: "Will property prices go up?, "Will condo prices go down?", etc. This is the response I give my clients: "I am not a fortune teller. However, as a licensed realtor, I value the opinion and information from statisticians and experts and one of the reports that is very informative is Market Watch, which is published by the Toronto Real Estate Board."

Further, I tell my clients that at any time, they will have peace of mind when they sell or buy a piece of property through me.

The Toronto Real Estate Board (TREB) publishes every month a report on the registered sales of real estate under the Board's jurisdiction. The February 2008 issue has Unionville as the Neighbourhood Corner. Some of the highlights of this issue are as follows:   

  • Single Family Residential Breakdown
  • Dwelling Types: Detached, Semi-Detached, Condo Townhouse, Condo Apt, Link, Att/Row/Twnhouse, Co-op Apt, Det Condo  
  • Housing Market Indicators: Sales, New Listings, Active Listings  
  • Days on Market  
  • District Map  
  • Price Category Breakdown - showing price range and corresponding info  
  • East District - showing Area, Active, New, Sales, $Volume, Avg Price, Med Price, Avg DOM, Avg %List, Listed, Detached Houses, Semi-Detached Houses, etc.  
  • West District - showing Area, Active, New, Sales, $Volume, Avg Price, Med Price, Avg DOM, Avg %List, Listed, Detached Houses, Semi-Detached Houses, etc.
  • Toronto District - showing Area, Active, New, Sales, $Volume, Avg Price, Med Price, Avg DOM, Avg %List, Listed, Detached Houses, Semi-Detached Houses, etc.
  • North District - showing Area, Active, New, Sales, $Volume, Avg Price, Med Price, Avg DOM, Avg %List, Listed, Detached Houses, Semi-Detached Houses, etc.
  • District Totals  
  • Annual Summary  
  • Single Family Dwelling Sales Comparison  

Following is an excerpt taken from the February 2008 issue:

  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.

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.

To read the full report, and/or to receive future monthly issues, kindly click the Contact button above, or select CONTACT and fill in the form.

To view the maps of various districts described in Market Watch, kindly go to District Maps.