Ken
New Member
See pdf in http://www.torontorealestateboard.com/consumer_info/market_news/news2009/pdf/nr011909.pdf
See text below.
NEWS RELEASE FOR IMMEDIATE RELEASE
For Media/Public Inquiries:
Mary Gallagher, Manager Media Relations
Toronto Real Estate Board
1400 Don Mills Road
Toronto, ON M3B 3N1
Office: (416) 443-8158
Email:maryg@trebnet.com
Mid-Month January GTA Housing Resales at 888
TORONTO, January 19, 2009 – Greater Toronto REALTORS® reported 888 sales during the first
half of January compared to 1,776 in the first 15 days of 2008. “According to Statistics Canada
the economic situation throughout Canada changed noticeably over the past year with job losses
in the fourth quarter of 2008. Toronto is not immune to this, the GTA housing market has been
impacted,†according to TREB President Maureen O’Neill.
The average GTA price mid-way through January is $332,495 from $367,574 during the same
period in 2008. The median GTA price was $301,000 compared to 316,000 last year. “While
sales have declined, listings have remained high. GTA home buyers have benefitted from more
choice,†explained Ms. O’Neill. “Historically, increased choice in the marketplace has equated to
a moderation in price growth.â€
In January 2009, stronger declines in sales and prices were experienced in the City of Toronto.
“Sales for January a year ago may have been elevated by the flurry of transactions completed
before the city’s land transfer tax went into effect,†added Ms. O’Neill.
“The costs of home ownership in the 416 has increased due to the added land transfer tax many
home buyers now face in the City of Toronto. Some households considering the purchase of a
home in the City have either put their decision on hold or looked elsewhere in the GTA.â€
SUMMARY!OF!MID"MONTH!JANUARY!SALES!AND!AVERAGE!PRICE!2008!"!2009
Sales Average!Price Sales Average!Price
City!of!Toronto!("416") 369 $350,835 800 $394,205
Rest!of!GTA!("905") 519 $319,455 976 $345,745
GTA 888 $332,495 1,776 $367,574
Source:!Toronto!Real!Estate!Board
2009 2008
Mid"Month!January
Greater 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. Serving over 28,000 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.
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See text below.
NEWS RELEASE FOR IMMEDIATE RELEASE
For Media/Public Inquiries:
Mary Gallagher, Manager Media Relations
Toronto Real Estate Board
1400 Don Mills Road
Toronto, ON M3B 3N1
Office: (416) 443-8158
Email:maryg@trebnet.com
Mid-Month January GTA Housing Resales at 888
TORONTO, January 19, 2009 – Greater Toronto REALTORS® reported 888 sales during the first
half of January compared to 1,776 in the first 15 days of 2008. “According to Statistics Canada
the economic situation throughout Canada changed noticeably over the past year with job losses
in the fourth quarter of 2008. Toronto is not immune to this, the GTA housing market has been
impacted,†according to TREB President Maureen O’Neill.
The average GTA price mid-way through January is $332,495 from $367,574 during the same
period in 2008. The median GTA price was $301,000 compared to 316,000 last year. “While
sales have declined, listings have remained high. GTA home buyers have benefitted from more
choice,†explained Ms. O’Neill. “Historically, increased choice in the marketplace has equated to
a moderation in price growth.â€
In January 2009, stronger declines in sales and prices were experienced in the City of Toronto.
“Sales for January a year ago may have been elevated by the flurry of transactions completed
before the city’s land transfer tax went into effect,†added Ms. O’Neill.
“The costs of home ownership in the 416 has increased due to the added land transfer tax many
home buyers now face in the City of Toronto. Some households considering the purchase of a
home in the City have either put their decision on hold or looked elsewhere in the GTA.â€
SUMMARY!OF!MID"MONTH!JANUARY!SALES!AND!AVERAGE!PRICE!2008!"!2009
Sales Average!Price Sales Average!Price
City!of!Toronto!("416") 369 $350,835 800 $394,205
Rest!of!GTA!("905") 519 $319,455 976 $345,745
GTA 888 $332,495 1,776 $367,574
Source:!Toronto!Real!Estate!Board
2009 2008
Mid"Month!January
Greater 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. Serving over 28,000 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.
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