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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
Totals	3640	100.00%
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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