“We’re continuing to see consistent levels with respect to sales volumes and prices,” said Ms. O’Neill. “While the numbers are more conservative than those in recent years, the stability we’re experiencing should help sustain consumer confidence as we move into the fall market.”

With 3,019 transactions in the GTA during the first half of the month, sales were down 13 per cent compared to the 3,480 sales recorded at mid-August last year, and off eight per cent compared to the 3,290 sales recorded during the same period in 2006.

In the City of Toronto, 1,192 transactions were recorded, down 15 per cent from the 1,411 sales that took place in the first half of August 2007, and off six per cent compared to the 1,269 sales that occurred in the same timeframe two years ago.

“While 2007 was a record year, it is still worthwhile to note that sales in the City of Toronto increased 11 per cent between mid-August 2006 and mid-August 2007, before the Toronto Land Transfer Tax went into effect,” said Ms. O’Neill.

In the 905 Region there were 1,827 sales to mid-month, down 12 per cent from the 2,069 transactions that took place in the same period a year ago, and off 10 per cent from the 2,021 sales recorded in the first two weeks of August 2006.

Prices meanwhile, increased compared to the same timeframe last year. The current average price in the GTA is $373,844, up five per cent from the mid-August 2007 figure of $354,088.

In the City of Toronto the average price is currently $394,563, up seven per cent from the $370,037 figure recorded a year ago.

In the 905 Region the average price is $360,325, up five per cent from the $343,210 recorded at mid-August 2007.

There are currently 26,128 active listings, up 28 per cent from the 20,365 properties available for sale a year ago. This has resulted in homes remaining on the market for a slightly longer period of 35 days compared to 32 days last August.

Several GTA neighbourhoods however, experienced brisk sales throughout the first half of this month.

In Whitby (E15) transactions increased 12 per cent compared to the same period a year ago as a result of strong detached home sales.

Detached home sales also led Aurora (N06) to a 21 per cent increase in transactions.

Streetsville (W19) saw eight per cent more transactions driven by a significant increase in the sale of attached row houses.

In Downtown Toronto (C01) transactions increased six per cent compared to mid-August 2007 as a result of strong sales in all housing types.

“It’s encouraging to see strong activity levels in pockets throughout all four corners of the GTA.” Said Ms. O’Neill.

Source: TREB (Toronto Real Estate Board)

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Prices remained stable throughout the GTA in July. At $371,427 the average price increased slightly more than one per cent from $366,012 recorded in July 2007 and nine per cent from the $342,034 figure of two years ago.

In the City of Toronto the average price of $395,342 increased less than one per cent from the July 2007 price of $395,044 and 10 per cent from the July 2006 figure of $360,409.

In the 905 Region the average price increased three per cent to $355,401 compared to the July 2007 figure of $345,967. This also represents an eight per cent increase from the July 2006 average of $329,644.

“Sales declined 12 per cent last month from the best-ever July 2007 record of 8,912 but increased 10 per cent from the 7,082 sales transacted in July 2006,” said Ms. O’Neill. “Comparing July 2007 with July 2006, sales increased by 26 per cent.”

In the City of Toronto 3,132 sales were recorded, down 14 per cent from July 2007’s 3,640 transactions but up 10 per cent from the 2,852 sales recorded two years ago in 2006. Comparing July 2007 with July 2006, a period before the Land Transfer tax went into effect in Toronto, sales increased 28 per cent.

In the 905 Region there were 4,674 transactions, down 11 per cent from July 2007’s 5,272 sales but up 10 per cent from the 4,230 sales recorded in July 2006. Comparing July 2007 with July 2006, sales increased 25 per cent.

From a year-to-date perspective, the GTA’s 51,249 sales in 2008 have declined 14 per cent from the 59,339 reached at this time a year ago.

Certain neighbourhoods throughout the GTA experienced increased sales activity in July.

In Whitby (E15) sales increased 22 per cent from July 2007, based on strong sales in most housing types.

Brampton East (W24) saw a 12 per cent increase, based primarily on semi-detached home sales.

Strong detached home sales drove Uxbridge (N16) to a 23 per cent increase compared to a year ago.

The Annex (C02) experienced a 29 per cent sales increase due to strong detached home and condominium apartment sales.

In addition to stable prices, the list to sale price ratio, at 98 per cent, remains unchanged from a year ago.

“While homeowners continue to see healthy returns, it is taking slightly longer to achieve a sale; the average time on market has increased to 33 days compared to 31 days a year ago,” said Ms. O’Neill. “This may be due to that fact that there is now more choice available to homebuyers; there are currently 26,543 active listings, a 28 per cent increase from a year ago.”

Source: TREB (Toronto Real Estate Board)

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“The average price in the GTA during the first half of July was $379,072, which is a one per cent increase from the $374,254 recorded in the first two weeks of July 2007 and a nine per cent increase from $346,267 recorded during the same period in July 2006,” said Ms. O’Neill.

In the 416 area, the average price was $419,199, up one per cent from the $414,321 recorded during first half of July 2007 and up 14 per cent from the $367,541 recorded during the same period two years ago.

At $353,257 the 905 region’s average price was up two per cent from $345,741 recorded in the first half of July 2007 and up six per cent from $332,733 recorded during the same period in July 2006.

“Continued strength in house prices throughout the GTA indicates that consumers continue to recognize the value of real estate as a long-term investment,” said Ms. O’Neill.

Sales activity remained moderate in the first half of July, with 3,497 homes changing hands in the GTA. This is a decrease of 11 per cent from the 3,947 properties sold in the same period in 2007 but an eight per cent increase from the 3,251 transactions recorded in the first two weeks of July 2006. Sales in the first two weeks of July 2007 saw a 21 per cent increase from mid-July 2006.

In the 416 area there were 1,369 sales, down 17 per cent from the 1,641 recorded during the first two weeks of July 2007 but up eight per cent from the 1,264 sales recorded in the same period in July 2006. Before the Land Transfer Tax went into effect, sales increased 30 per cent in the first half of July 2007 compared to the same period in July 2006.

Sales in the 905 region came in at 2,128 in the first half of the month, down eight per cent from the 2,306 recorded during the same period last year but up seven per cent from the 1,987 sales recorded during the first half of July 2006. Sales in the first two weeks of July 2007 saw a 16 per cent increase over mid-July 2006.

Activity in certain areas increased in the first half of this month.

Bowmanville (E17) saw a 12 per cent overall increase in sales due to an increase in detached home transactions.

Brampton (W24) sales increased 18 per cent, driven primarily by a significant increase in semi-detached home transactions.

The Annex (C02) experienced a 70 per cent increase in sales largely due to an increase in detached home transactions.

“Although the number of available properties has increased 25 per cent compared to a year ago, from 21,777 to 27,317 listings, the number of days on market remains the same at 32, which is a positive sign,” said Ms. O’Neill.

Source:  TREB (Toronto Real Estate Board)

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Prices continued their upward trend in the first half of this month. The GTA average price is currently $398,542, up four per cent over the $384,576 average from the same timeframe a year ago and up 11 per cent from the $358,648 recorded at mid-June 2006.

In the City of Toronto the current average price is $439,469, up three per cent over the $424,888 average a year ago and up 14 per cent over the $386,960 average in the first half of June 2006.

In the 905 Region the average price is $371,686 up four per cent from the $357,359 average a year ago and up 10 per cent from the $338,578 recorded at mid-June 2006.

In the City of Toronto 1,733 sales took place to mid-June 2008. This represents a 15 per cent decrease compared to the 2,045 properties sold a year ago but a two per cent increase over the 1,690 transactions in the first half of June 2006. A different story emerges when you compare the first half of June 2007 before the Toronto Land Transfer Tax went into effect to the same period in June 2006, a period showing a 21 per cent increase in sales.

“With 4,374 transactions in the first two weeks of this month, sales in the GTA declined 14 per cent compared to the same timeframe a year ago when 5,074 properties were sold,” said Ms. O’Neill. “However, compared to the first half of June 2006 when 4,074 properties changed hands, this month’s activity is up seven per cent.

In the 905 Region, the scenario was similar. In the first two weeks of June, 2,641 properties were sold. This represents a 13 per cent decline compared to the 3,029 homes sold in the first half of June 2007 but an 11 percent increase over the 2,384 properties sold at mid-June 2006. When you compare the first half of June 2007 to the same period in June 2006, sales increased by 27 per cent.

Certain communities including Riverdale, West Agincourt, Caledon and Richmond Hill South experienced strong activity in the first half of this month.

In Riverdale (E01) transactions increased 28 per cent compared to the first half of June 2007 driven by strong condominium apartment sales.

Condominium apartment transactions also drove West Agincourt (E05) to a 24 per cent increase in sales compared to the same timeframe a year ago.

In Caledon (W28) detached home transactions lead to a nine per cent increase in sales over the same period a year ago.

Richmond Hill South (N03) also experienced strong detached home sales, which resulted in a five per cent increase from mid-June 2007.

“With employment and interest rates holding steady and a 17 per cent increase in available listings compared to a year ago, it is an ideal time to take advantage of all that the market has to offer,” said Ms. O’Neill.

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“Actions speak louder than words. REALTORS® are encouraged that the City is developing an affordable housing strategy, but recent City decisions, especially the implementation of the Toronto Land Transfer Tax, directly contradict this initiative,” said Maureen O’Neill, President of TREB.

TREB submitted its input in a detailed written submission, which raised concerns about new and increasing City-imposed costs on home ownership including a land transfer tax, property taxes, development charges, garbage fees, and water rates. TREB’s submission calls on the City to use the forthcoming affordable housing strategy to reverse this trend.

“All levels of government, including the City of Toronto, should do their part to address affordable housing challenges. With the forthcoming strategy, the City can send a strong message that it supports home buyers,” said O’Neill.

The proposed strategy sets specific targets for the number of households to assist in various categories. TREB is calling on the City to increase the number of households that it is targeting to assist with achieving home ownership.

“Addressing affordable housing requires comprehensive solutions. Owning a home is the preferred option for most people. The City can, and should, include ambitious targets for home ownership in its affordable housing strategy,” said O’Neill. To help achieve ambitious home-ownership targets, TREB believes that City-imposed housing costs
should be reduced.

“The easiest way for the City to contribute to affordable housing solutions is to reduce the costs that it imposes on home buyers and owners. The Toronto Land Transfer Tax is one of the biggest costs faced by home buyers, and it should be rolled back,” said O’Neill. “Development charges also add costs for homebuyers; they should be kept fair and the City should consider targeted exemptions for affordable housing.”

Source:  TREB (Toronto Real Estate Board)

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On a year-over-year basis the GTA average price increased four per cent to $398,148 in May from the May 2007 average of $382,787. Prices increased three per cent in the City of Toronto to $434,271 from $422,163 during the same period a year ago, while in the 905 Region there was a five per cent increase to $374,629 from $355,341 last May.

“Price gains show that real estate continues to be a solid investment for the consumer,” said Ms. O’Neill. “We are confident about the market because employment in the GTA continues to be strong and interest rates remain low. As long as consumers have the financial resources to buy homes and a variety of choices to manage carrying costs, the market should remain stable.”

“May’s sales figures represent a 16 per cent decline in the GTA from the record month a year ago when 11,146 sales were recorded,” said Ms. O’Neill. “More than 9,000 properties changing hands still represents considerable market activity.”

In the City of Toronto, there were 3,711 sales, down 19 per cent from last May’s 4,578 sales and down 6 per cent from May 2006. In the 905 Region, 5,700 transactions were recorded, which represents a 13 per cent decline from the 6,568 sales during the same period a year ago but up 4 per cent from May 2006.

“The Toronto Land Transfer Tax has been in effect for four months and the decline in sales has been running for the same time period,” said Ms. O’Neill. “We’re keeping a close watch on the effect of this new tax.”

Two specific areas North of Toronto experienced increased sales activity in May. In Uxbridge (N16) sales were up 10 per cent, while Stouffville (N12) saw a 12 per cent increase in sales, driven mainly by detached home transactions.

Source: TREB (Toronto Real Estate Board)

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April Number of Units Sold

There were 9393 units sold in April, up over 2000 units over March’s total

April Average Days on Market

April’s average days on market was 27.94, Down 2 days on average from March

April Sold to Asking Price Ratio

On average properties in Toronto sold for 98.52% of the Asking Price, the average is up marginally from March’s 98.34%.

April Average Selling Price

The average selling price for real estate in Toronto jumped almost $21,000 in April to $404,614.

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Last week was the first week that I published available inventory for Toronto’s North York Condos for sale.  I do plan on continuing the series since is was well recieved.  It will be moved to the Listings page and will be updated weekly.  The series will be updated on Thursdays or Fridays.

If you want to recieve current Toronto Condos for Sale updates by RRS feed or by e-mail, you will need to subscribe on the listings page as it has a different feed than the Main page feed.

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Today I am playing around with a new feature to make the East Toronto Real Estate Blog a little more fun.  I have added seesmic.com video to the blog and comments section.  You will be able to choose if you want to leave a text or video comment in reply to any new post since I have turned the comments off all prior articles.  As a mini bonus if you have your own website I have also added the “Do Follow” tag.  Thanks to Dustin Luther at the Rain City Guide and 4realz for introducing me to the seesmic site. 

I don’t have a set plan on how often I will post video but as I get more comfortable with it I am sure they will be more frequent.

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Harrison Garden Blvd Condos For Sale

16 - 4 units availavle 

• 3 1 bedroom with 1 washroom
• 1 2 bedroom with 2 washrooms

18 - 3 Units Available

• 1 1 bedroom with 1 washroom
• 1 1 bedroom plus den with 1 washroom
• 1 2 bedrooms plus den with 2 washroom

28 - 9 Units Available

• 1 - 1 bedroom with 1 washroom
• 2 - 1 bedroom plus den with 1 washroom
• 5 - 2 bedrooms and 2 washrooms
• 1 - 3 bedrooms 2 washrooms penthouse

30 - 3 Units Available

• 1 - 1 bedroom with 1 washroom
• 1 - 1 bedroom plus den with 1 washroom
• 1 - 2 bedrooms with 2 washrooms

51 - 2 Units Available

• 1 - 1 bedroom with 1 washroom (penthouse)
• 1 - 2 bedrooms with 2 washrooms

55 - 1 Unit Available

• 1 - 2 bedroom with 2 washrooms

78 - 11 Units Available

• 1 - 1 bedroom with 1 washroom
• 2 - 1 bedroom plus den with 1 washroom
• 7 - 2 bedroom plus 2 washrooms
• 1 - 2 bedroom plus den and 2 washrooms

80 - 9 Units Available

• 4 - 1 bedroom plus den with 1 washroom
• 1 - 1 bedroom plus den with 2 washroom
• 1 - 2 bedroom with 2 wahsroom
• 3 - 2 bedrooms plus den with 2 washrooms
• 1 - 2 bedrooms plus den with 3 washrooms

Sheppard Ave East Condos for Sale

33 - 5 Units Avaible

• 1 -1 bedroom plus 1 washroom
• 1 - 1 bedroom plus den and 1
• 3 - 2 Bedrooms and 2 washrooms

Bales Ave. Condos for Sale

31 - 5 Units Available

• 2 - 1 bedroom and 1 washroom
• 1 - 2 bedrooms and 1 washroom
• 1 - 2 bedrooms plus den and 2 washrooms
• 1 - 3 bedrooms and 2 washrooms

35 - 1 Unit Available

• 1- 2 bedrooms and 1 washroom

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