Toronto & GTA Real estate Market Nov 2008
Listed below is the breakdown of sales recorded on the Toronto MLS for November 2008.Approximately 65% were freehold Detached,Semi-Detached & Townhouses. Approximately 25% of sales were Condos.
The number of units sold compared to the respective month 2007 were down 50%. It continues to be a buyers market as the number of active listings compared to 2007 were up 48%.So there are some great opportunities for buyers to get into the market due to supply still being high and interest rates being very attractive. However, New listings coming to market in November 2008 were 7% less than 2007. If this level of new listings continue to decrease it will ultimately lead to the inventory available diminishing and changing the market to being more balanced.
Full Report
| Type |
Units Sold |
% |
Median Price |
| Detached |
1705 |
46.84% |
$ 379,000.00 |
| Semi-Detached |
425 |
11.68% |
$ 323,000.00 |
| Condo T/house |
288 |
7.91% |
$ 245,000.00 |
| Condo Apt |
906 |
24.89% |
$ 226,000.00 |
| Link |
52 |
1.43% |
$ 267,000.00 |
| Freehold TownHome |
244 |
6.70% |
$ 296,000.00 |
| Co-op Apt |
16 |
0.44% |
$ 210,000.00 |
| Det Condo |
4 |
0.11% |
$ 224,000.00 |
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| Totals |
3640 |
100.00% |
|
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| MLS Toronto & GTA Housing Market Indicators |
| |
Nov-07 |
Nov-08 |
% Change |
| Sales |
7313 |
3640 |
-50% |
| New Listings |
10692 |
9925 |
-7% |
| Active Listings |
18309 |
27037 |
48% |
| Days On Market |
32 |
41 |
28% |
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