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June 5, 2007 -- With an astonishing 11,146 sales in May, the Toronto Real Estate market put in its best performance since records have been kept, President Dorothy Mason announced today. "The Toronto Real Estate Board has been tracking the local housing market for over forty years, and there has never been a month that even approaches this level of activity," Ms. Mason stated. "May was up 18 per cent over April, our previous record month (9,452 sales), and also up 18 per cent over May of 2006 (9,434 sales), which now ranks as the third highest sales total recorded."
Ms. Mason further noted that, according to statistics compiled by the Canadian Real Estate Association, every home sale generates about $27,000 in economic activity (for renovations, furniture purchases, and so forth) over and above direct expenditures involved in the transaction. "This means that Realtors® and their clients have contributed over $300 million to the local economy in ancillary costs last month alone."
However, while sales sky-rocketed, price increases were restrained, with the average rising a mere five per cent to $382,787 from the $365,537 recorded during May of 2006.
Breaking down the total, 4,175 sales were reported in TREB’s 28 West districts and averaged $356,836; 2,038 sales were reported in the 14 Central districts and averaged $506,172; 2,323 sales were reported in the 23 North districts and averaged $408,391; and 2,610 sales were reported in TREB’s 21 East districts and averaged $305,168
Another Strong Month
TORONTO, June 4 th , 2007 -- In May the Toronto Area resale housing market experienced its most active month ever as 11,146 homes changed hands, Toronto Real Estate Board President Dorothy Mason announced today. The total for the month was 18 per cent higher than May of 2006.
“The level of activity has been very strong through the spring, but it jumped to another level in May,” Mrs. Mason said. “Overall, our yeartodate figures show that sales are about eight per cent ahead of last year’s pace.
”In West Agincourt •E05•, condominium activity more than doubled as overall sales increased by 39 per cent compared to last May.
Condominiums are by far the most common housing type in Toronto’s downtown / Harbourfront neighbourhood •C01•, where transactions jumped 37 per cent overall compared to May of 2006.
In the Cooksville / Port Credit area of Mississauga •W12•, 41 per cent more transactions took place compared to a year ago.
North of Toronto in Vaughan Centre •N08•, overall resale activity increased by 40 per cent compared to the same timeframe in 2006.
With the average price just five per cent higher than a year ago, at $382,787, Mrs. Mason noted that the market is a strong investment, yet still quite accessible.
“We have an excellent combination of healthy, controlled price increases and a very high level of activity,” Mrs. Mason said. “People are demonstrating that it’s a great time to start out in the market or switch to a different home.”
Toronto REALTORS® are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service designed exclusively for REALTORS®. Serving more than 24,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada's largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.
See the Average Price Cycles
from January 1995 to Date - a very interesting cyclical pattern is clearly
seen!
See how the historical 1 year mortgage interest rate
compares to the 5 year rate
Breaking down the total Numbers into TREB Areas for this month
Please browse here if you wish to see all the TREB Sales stats for 2006
March 2007 Sales figures
February 2007 Sales figures
January 2007 Sales figures
See last year's sales figures
Neighbourhood Corner - Mississauga - Each month The Toronto Real Estate Board profiles a neighbourhood and for January of 2006 TREB chose Mississauga!
Mississauga (MLS districts W12 to W20) had 608 sales in January, up seven per cent over the figure recorded in January of 2005. These sales averaged $305,464, a two per cent increase over last January. Breaking down the total, there were 201 sales of detached homes, which averaged $448,889; there were 171 sales of condominium apartments, and the average for these was $193,481.
There were 569 sales in the Mississauga area during January, down 12 per cent from the figure recorded in January of 2004. The average price, however, rose seven per cent to $298,503. Breaking down the total, detached homes in Mississauga (203 sales) averaged about $418,655, while semis (121 sales) came in at $279,025.
The Mississauga area (W-12 through W-20) registered 645 sales in January, down 10 per cent from the 721 recorded during the same time-frame in 2003. However, the overall average in Mississauga came to $277,594, up seven percent over the $259,207 recorded in January of last year. Average days-on-market was 43, about the same as the Board-wide figure of 42.
In Mississauga (W-12 to W-20) the latter half of this year saw prices climb 10 per cent to $256,824 over the $233,151 recorded for the whole of 2001. Average Days-on-Market in Mississauga was 34, as compared to a city-wide average of 38 days.
Housing prices in selected areas of the GTA | ||||
| Municipality | Standard Condominium Apartment | Standard Two Storey House | Standard Townhouse | Senior Executive House |
| Brampton | 155,000 | 280,000 | 210,000 | 585,000 |
| Burlington | 181,000 | 275,000 | 181,000 | 490,000 |
| Markham | 260,000 | 358,000 | 245,000 | 465,000 |
| Mississauga | 185,000 | 290,000 | 206,500 | 490,000 |
| Oakville | 225,000 | 290,000 | 220,000 | 600,000 |
| Richmond Hill | 225,000 | 290,000 | 225,000 | 410,000 |
| Toronto - Etobicoke (Islington/Kingsway) | 210,000 | 415,000 | 232,000 | 640,000 |
| Toronto - Leaside | 250,000 | 645,000 | 350,000 | 950,000 |
| Source: Survey of Canadian House Prices, Fourth Quarter 2004 Prices as of Oct.-Dec. 2004 (CDN $) | ||||
Rental Market indicators in the GTA
This chart shows the breakdown of single family residential sales
for last month.
Housing Market Indicators |
||||
|
This month |
This month |
% Change |
|
Sales* |
8,084 |
7,329 |
(-9%) |
less sales |
New Listings* |
12,059 |
12,012 |
( -- ) |
equal listings |
Active Listings* |
20,063 |
22,368 |
(+11%) |
more listings all = softer market and prices |
* All figures above for Single-Family Dwellings.
Totals for this last month
Previous Month average prices 2005
This is a graphical representation showing the percentage of homes that sold in each price range.
Archived issues of my TREB Market Watch reports
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Mississauga MLS Real Estate Properties & MLS.CA Homes for Sale All Pages including SiteMap, Link to us, Mississauga Real Estate Blog and Guestbook maintained by A. Mark Argentino, 
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