Vito Pirri

Rent/Lease 102-111 Elizabeth Street in Downtown $1500.00/mth

Vito Pirri — Wed, 07 Jan 2009 21:34:00 GMT

Downtown, Toronto - Announcing a rent/lease reduction on 102-111 Elizabeth Street, a 500 sq. ft., 1 bath, 1 bdrm apartment. Now MLS® $1,500 CAD Monthly - Parking & Locker Included.

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376-314 John Street in Bayview/John is Sold!

Vito Pirri — Wed, 24 Dec 2008 14:29:00 GMT

Bayview/John, Markham - The townhouse at 376-314 John Street has been sold. Contact me for the sale price.

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GTA Resale statistics for the week ending November 27, 2008

Vito Pirri — Mon, 22 Dec 2008 18:52:00 GMT

November 27 , 2008
Region	Area Sales	Av. Price
East	204	$296,942
West	345	$344,036
Central	146	$460,690
North	123	$380,459
Total	818	$358,589

November 2008 GTA Resale housing sales statistics.

Vito Pirri — Mon, 22 Dec 2008 18:06:00 GMT

For the most current statistics, visit my website, www.gtamoves.com or www.vitopirri.com.

Over 3,600 Greater Toronto Area Resale Housing Sales in November

TORONTO, December 04, 2008 -- Greater Toronto REALTORS® recorded 3,640 transactions last month, from 7,313 sales in November 2007, Toronto Real Estate Board President Maureen O’Neill announced today.

Year-to-date sales figures for the Greater Toronto Area show 72,086 transactions in 2008, from 88,695 sales recorded in the same January to November period a year ago. By contrast, the 2008 year-to-date average price in the GTA is $379,489, from $375,445 in 2007.

“Its important for the public to understand that while sales activity has moderated in 2008, due to current economic conditions, the average price of homes has increased from 2006 still making real estate a solid long term investment,” said O’Neill.

In the 416 area, 1,523 transactions took place last month, from 3,426 sales recorded in November 2007. From a year-to-date perspective, there have been 28,806 sales in the 416 area this year, from 36,804 transactions a year ago.

In the 905 Region 2,117 homes changed hands last month, from November 2007’s 3,887 sales. The 905 Region’s year-to-date figures show 43,280 transactions this year, from 51,891 sales recorded during the same period in 2007.

“Homeownership in the Greater Toronto Area continues to be an affordable, stable and secure investment,” said Ms. O’Neill. “Home buyers and sellers should be confident about their bricks and mortar investment which provides shelter and a place to raise a family.”

“Home prices are affordable, interest rates are at historical low levels and the supply of homes for sale is good providing additional reasons for buyers thinking of entering the market,” added O’Neill.

The average price of a home in the GTA last month was $368,582, from $393,747 noted in November 2007. In November 2006 the average price was recorded at $355,727.

In the 416 area, last month’s average price was $390,225, from $433,859 noted in November 2007. The average price recorded in November 2006 was $381,188. From a year-to-date perspective the 2008 average price in the 416 area is $411,155, from last year’s $411,640.

In the 905 Region, the average price recorded last month was $353,012, from $358,391 recorded in November of 2007. In November 2006 the average price was $335,522. The year-to-date average price in the 905 Region this year is $359,245, from $349,774 in 2007.

The average number of days a home currently remains on the market in the GTA is 41, from an average of 32 days last November. There are currently 27,037 homes listed on the TorontoMLS system compared to 18,309 available properties in November 2007.

“While homeownership offers immediate benefits and long term value by way of equity, it also provides tax benefits over time,” said Ms. O’Neill. “If you bought a house five years ago, it would be worth more than 20 per cent more today.”

“As REALTORS®, we help build communities and will continue to do so even during challenging economic times,” added Ms. O’Neill. “It’s important to consult with a REALTOR® to get accurate local market information.”

Re/Max 2009 Housing Outlook Report (see my website to download the entire report; www.gtamoves.com)

Vito Pirri — Thu, 04 Dec 2008 17:18:00 GMT

Threat of global recession hinders home sales in major Canadian housing markets in 2008 and 2009, says RE/MAX

Mississauga, ON (December 3, 2008) - Global economic uncertainty weighed heavily on residential real estate activity in most major Canadian centres during the latter half of 2008. Although the forecast for 2009 promises more of the same, most markets are expected to weather the storm, says RE/MAX.

"Housing market performance will clearly be contingent on economic performance at a local, provincial, and national level in 2009," says Michael Polzler, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada. "Issues affecting the overall economy are impacting housing markets across the country and the situation is not expected to be remedied until consumer confidence is restored. That said, we could see a bounce back as early as spring - if inventory levels remain stable, pent-up demand kicks into gear, and lower interest rates stimulate home-buying activity."

GTA Weekly Sales Stats to November 20, 2008

Vito Pirri — Thu, 04 Dec 2008 15:25:00 GMT

For the most current statistics, please visit my website: www.gtamoves.com .

November 20 , 2008
Region	Area Sales	Av. Price
East	248	$297,304
West	369	$344,171
Central	161	$443,942
North	166	$401,959
Total	944	$339,036

The November 19, 2008 release of mid month GTA Sales Stats.

Vito Pirri — Thu, 04 Dec 2008 15:18:00 GMT

For the most current statistics, please visit my website: www.gtamoves.com .

Greater Toronto Resale Housing at 2,000 Sales in Mid-November

November 19, 2008 -- Greater Toronto REALTORS® recorded 1,991 resale transactions during the first half of November 2008 from 3,544 sales recorded during the same period a year ago, Toronto Real Estate Board President Maureen O’Neill announced today.

The Greater Toronto Area year-to-date figures show 70,474 sales in 2008 from 84,994 recorded during the same period in 2007. The year-to-date average price was recorded at $380,470 in 2008 from $374,678 in 2007.

In the 416 area, 830 homes changed hands in the first two weeks of November from 1,643 transactions recorded during the same time frame a year ago. The year-to-date figures show 28,126 compared to 35,045 recorded in 2007. In the 905 Region there were 1,161 sales during the first half of the month from the 1,901 transactions recorded at mid-November 2007. The year-to-date figures show 42,348 compared to 49,949 recorded in 2007.

‘It’s particularly important to interpret the 416 area statistics in context given the market surge we saw a year ago when buyers moved to avoid the new Toronto Land Transfer Tax,” said Ms. O’Neill. “At midmonth a year ago, transactions in the 416 area had increased 24 per cent over the same period in 2006.”

In the first two weeks of November 2008, the average price of a home in the GTA was $375,712 compared to $393,084 recorded a year ago.

In the 416 area, homes are currently selling for an average of $400,305 from the $432,972 average recorded during the same time period in 2007. An average price of $383,029 was recorded in the first two weeks of November 2006.

In the 905 Region the average price is currently $358,130 from $358,610 recorded a year ago. During the first half of November 2006 the average price was recorded at $336,576.

“As an investment, a home not only offers shelter and an environment in which life’s most important moments are shared, but also offers financial appreciation in the long term, said Ms. O’Neill.”

Currently there are 27,562 homes listed for sale on the TorontoMLS system compared to a year ago when 20,173 properties were available. As such, the average time homes are remaining on the market is 41 days from 31 days in 2007. Sellers are currently achieving 97 per cent of their list price.

GTA weekly sales stats to November 13, 2008

Vito Pirri — Fri, 21 Nov 2008 17:13:00 GMT

For the most up to date statistics, please visit my website www.gtamoves.com.

November 13 , 2008
Region	Area Sales	Av. Price
East	233	$303,344
West	362	$350,494
Central	160	$523,746
North	195	$415,803
Total	950	$381,514

About Canadian house prices...taken from www.reportonbusiness.com

Vito Pirri — Fri, 21 Nov 2008 02:03:00 GMT

I was surfing the net this evening (November 20, 2008), when I came across this article on reportonbusiness.com. I thought it quite interesting and puts the current market into some perspective, well, to me at least! For the most current GTA Real Estate Market statistics, go to my website, www.gtamoves.com

"TD scales back house-price decline"

JOHN PARTRIDGE

Globe and Mail Update

November 20, 2008 at 2:48 PM EST

Canadian housing prices have not fallen nearly as steeply as conventional measures indicate, Toronto-Dominion Bank said Thursday.

According to a new TD Home Price Index, which the bank unveiled Thursday, average major market home prices in October were down just 4.6 per cent from a year earlier, rather than the 10.9 per cent cited in a news release Nov. 14 by the Canadian Real Estate Association (CREA).

The difference stems from the fact that while CREA has traditionally weighted its average price figure based on relative sales volumes, TD is weighting it based on the outstanding stock of homes in a given region.

The bank acknowledged, however, that CREA recently began using a “more accurate stock-weighted method.”

In fact, in its Nov. 14 news release, the association also said that using a stock-based calculation, the weighted national average price “eased by 5 per cent” in October, year-over-year. However, this number appears to have received little media attention.

Bob Linney, a spokesman for the Ottawa-based association, said CREA chief economist Gregory Klump developed the methodology and has been using it for two months.

The difficulty with the more traditional sales-weighted approach is that it measures the average price for existing-house transactions in a given month and market, regardless of unit type, quality or size, TD said in a report to clients Thursday.

“In normal times, these regional sales-weighted price measures are reliable,” TD economists Pascal Gauthier and Grant Bishop said in the report. “However, the same cannot be said when markets are at a turning point and sales fluctuate significantly. Such is the case in Canada at the moment.”

The economists cited the British Columbia market, where sales were down by 40 per cent as at Oct. 8. “Since average prices in [B.C.] are the highest in the nation, the drop in sales tends to overstate the extent of price declines when applied to a simple national average,” they said.

Indexes that are weighted on the basis of the stock of housing in a given region, such as the S&P/Case-Shiller Housing Price Index in the United States offer a “better apples-to-apples comparison over time” because they focus on houses that have sold more than once,” the TD economists said.

CREA's Mr. Linney agreed. “It's like seasonally adjusting, it eliminates the highs and the lows,” he said in a telephone interview. “We had one month where the average price [in Halifax] almost doubled, but it was because they sold three $1-million houses, which doesn't normally happen.”

TD released its report the same day as Bank of Nova Scotia joined a growing crowd of observers in declaring that Canada's longest housing boom since the end of the Second World War has ended.

However, there is little or no danger that Canada will experience the sort of market collapse and tidal wave of foreclosures occurring south of the border, Scotiabank senior economist and real estate specialist Adrienne Warren said in a report.

“This is not a U.S.-style bust caused by overbuilding, speculative buying and imprudent lending, but rather a cyclical slowdown accompanied by a valuation adjustment in several large centres where booming demand conditions and temporary supply constraints led to an overshooting in prices,” she said.

The reversal of fortune has been most pronounced in what have been Canada's hottest markets of late, it added – the Western provinces and, in particular, Calgary, Edmonton and Vancouver.

The flip side, however, is that in virtually all regions of the country, “conditions ... are tilting back in favour of buyers for the first time in years,” the bank said.

The Scotiabank report comes a week after CREA disclosed that, in October, the national average price of a resale home fell by 10 per cent from a year earlier to $281,133, the fifth consecutive monthly decline and the largest in percentage terms since August, 1982. As well, unit sales were down a full 27 per cent from a year earlier.

Earlier this week, meanwhile, a survey by the Canadian Association of Accredited Mortgage Professionals found that 35 per cent of Canadians now expect housing prices to continue falling, up from 15 per cent last spring.

Scotiabank is, in fact, a little late to the party. Economists at Bank of Montreal, for example, declared as early as last March that Canada's housing boom was dead.

As of August, U.S. housing prices were down 20 per cent from their peak in July 2006, Ms. Warren said in a telephone interview, and given there is so much unsold inventory, “we see further declines of maybe 25 per cent plus.”

By contrast, she figures that the correction in national average housing prices in Canada will probably be in the range of 10 per cent to 15 per cent, “well below the ongoing U.S. retrenchment.”

As evidence of why the Canadian housing market is not at risk of the same sort of bust occurring in the United States, Ms. Warren cited the fact that Canada's inventory of unsold new and resale homes is still “well contained compared with prior cycles,” even though it is moving up.

For another, there is a low risk of widespread foreclosures and, combined with the fact that builders are generally starting to slow the pace of new construction, this means Canada does not have to cope with the “massive inventory glut underlying record-setting U.S. price declines.”

Canada's situation compares favourably with that of several other nations, according to the Scotiabank report.

Measured by a valuation model developed by the International Monetary Fund, Canada's housing market is “least overvalued,” while Ireland's and Britain's are the most overvalued, the report said, followed by Australia, France and Spain.

“U.S. house prices are estimated to be only moderately overvalued following the recent price declines,” it said.

GTA Real Estate sales statistics for October 2008

Vito Pirri — Wed, 19 Nov 2008 17:00:00 GMT

For current statistics, please go to my website www.gtamoves.com.
November 5, 2008 -- TREB Members reported 5,155 sales in October, down 35 per cent from the 7,915 sales reported in October of 2007, and also down 25 per cent from the 6,876 sales reported during October 2006.
Within the City of Toronto, 2,136 sales were recorded. This was down 38 per cent from the 3,455 sales recorded in October of last year. In the 905 suburbs, however, the 3,019 sales recorded were down 32 per cent from October 2007's figure of 4,460.
GTA-wide, prices declined 10 per cent to $352,974 from last October's average of $394,646. They were down one per cent over the average recorded in October 2006 of $356,423. As with sales, price declines differed according to region.The City of Toronto average was $376,896, down 13 per cent from the $434,022 recorded during the same month in 2007, and down about three per cent from the $386,807 recorded in October 2006. Meanwhile, the average for the City's 905 suburbs was $336,049.This is down eight per cent from the $364,142 recorded last October, and up one per cent from the $333,166 recorded in October 2006.
Breaking down the total, 2,064 sales were reported in TREB's 28 West districts and averaged $335,329; 892 sales were reported in the 14 Central districts and averaged $450,437; 946 sales were reported in the 23 North districts and averaged $382,032; and 1,253 sales were reported in TREB's 21 East districts and averaged $290,719.
NEIGHBOURHOOD CORNER
Agincourt
The dominant house types sold within Agincourt (parts of districts E05 and E07) are detached and semi-detached. For detached homes, the average was $403,597 in 2008 to-date, up seven per cent over last year's figure of $376,047. Semis averaged $321,943, up three per cent over the $313,337 recorded during the first ten months
of 2007.

GTA Resale Housing Market Continues to Reflect Economic Times
TORONTO, November 5, 2008 -- The Greater Toronto Area resale housing market reported 5,155 sales in October, Toronto Real Estate Board President Maureen O’Neill announced today.
This represents a 35 per cent decline from the 7,915 sales reported in October 2007 and a 25 per cent decrease from the 6,876 transactions that took place during the same period two years ago.
In the City of Toronto, there were 2,136 sales, with sales activity down 38 per cent from the 3,455 transactions recorded last October.
In the 905 Region 3,019 sales were recorded, with sales activity down 32 per cent from a year ago when 4,460 homes changed hands.
With 68,570 transactions to date this year, sales are within 16 per cent of the 81,563 transactions noted a year ago. The 2007 market referred to was a record breaking year with each month breaking records for the entire year. Putting into perspective 2008 figures are indicative of a return to a more balanced market.
In the City of Toronto 27,324 sales year-to-date are within 18 per cent of the 33,441 transactions recorded last year at this time.
In the 905 Region the 41,246 sales to date are within 14 per cent of the 48,122 homes that changed hands up to this point a year ago.
In the City of Toronto, the current average price of a home is $376,896, down 13 per cent from last October’s average of $434,022 and within three per cent of the October 2006 average of $386,807.
In the 905 Region homes are selling for an average price of $336,049, a decline of eight per cent from October 2007’s average of $364,142. Prices in this area however, remain one per cent higher than the October 2006 average of $332,822.
“Earlier this year the International Monetary Fund undertook a study of housing markets in 17 countries and found that Canada was one of only two nations in which house prices are supported by the economy,” said Ms. O’Neill. “There’s no doubt that real estate will continue to be a solid long-term investment in our country.”

View on the GTA housing market from Michael Polzler, Exec. VP & Regional Director of Re/Max Ontario-Atlantic

Vito Pirri — Tue, 18 Nov 2008 14:44:00 GMT

Toronto Real Estate Board stats for October created some heated dialogue in the industry in recent weeks. While many believe that the dismal statistics reflect the recent volatility in financial markets, some are now asking if they also identify an emerging trend in the Greater Toronto Area.

The simple answer is no. Although there are some serious negative factors influencing the marketplace, one month does not make a market. We need several consecutive months of momentum – one way or another – before we can really determine the direction of the market.

Make no mistake. 2008 has presented our industry with challenges across the board. Unit sales are down 16 per cent from one year ago, hovering at approximately 70,000, while average price at $380,654 is up marginally over year–to–date figures for the same period in 2007. And the prognosis will get worse before it gets better, considering the new land transfer tax rate implemented in January, 2008 artificially inflated housing values during the fourth quarter of 2007. Average price hovered close to $400,000 in October, November, and December of last year – which will be the measuring stick in the months ahead.

Clearly, market conditions have shifted in favour of the buyer. There are more homes listed for sale than one year ago and houses are taking longer to sell. Our forecast for 2008 – released in October of 2007 – said as much.

Sellers are adjusting to new market realities – albeit reluctantly – while buyers are taking it all in. Some are sitting on the fence, waiting for housing values to fall further or interest rates to decline a percentage point or two more. The courageous are jumping into the market, taking advantage of lower prices, greater selection, and less competition.

For those that are trading in the same market, it’s all relative. Sellers may get less than they thought for their homes, but they’ll also pay less on the other side of the transaction. With market conditions stabilizing, first–time buyers now have the luxury of time in making their housing decisions. They also have greater purchasing power than they had one year ago – and their dollar will go much farther.

Unlike other investment vehicles, residential real estate serves two purposes. It’s still considered an investment, but it is also a roof over your head. We know from past experience that housing appreciates at a rate of five per cent annually. It’s cyclical, so it may rise and fall, but the risk involved will never be as steep or as serious as in the stock market, where the value of your portfolio can drop 30 per cent overnight and some of your stocks can fall to 0. You also can’t live in your mutual fund.

Real estate in the Greater Toronto Area has faced many challenges over the years but continued to experience steady growth. In 2009, there are some announcements that are expected to have a positive impact on the housing market and they are as follows:

1. The Bank of Canada has indicted that lending rates may fall further in 2009.

2. Federal government intervention in the form of a $75 billion mortgage purchase from the CMHC will free up additional credit.

3. Measures will be introduced by both the Federal and Provincial government to bolster the economy. In Ontario , that could mean a bailout package for the ailing manufacturing sector.

4. A lower Canadian dollar – hovering at 85 cents American – may provide a much–needed boost to manufacturing.

5. Job employment rates continue to hold steady in the GTA, despite upward momentum at the provincial level. The unemployment rate was 6.8 per cent in October, down from 6.9 per cent in September.

6. Population in the GTA continues to grow through migration, with 60,000 plus households expected to form in 2009.

Last, but not least, we must remember that the Greater Toronto Area generates about 10 per cent of the country’s total wealth – that’s comparable to what New York, Chicago, Boston, and San Francisco make to the US economy. There’s no question that we are a world–class city – in a have–not province. We may be in for some challenges over the next six to nine month period, but we should see clear signs of recovery by late 2009. The good news is that lifecycle events will continue to occur, whether real estate is experiencing a bull or bear market.

Sincerely,

Michael Polzler
Executive Vice President and Regional Director
RE/MAX Ontario-Atlantic Canada Inc.

GTA Weekly sales up to October 30, 2008

Vito Pirri — Fri, 14 Nov 2008 16:21:00 GMT

For the most up to date statistics, visit my website www.gtamoves.com . Weekly sales stats for the GTA to October 30, 2008.

October 30 , 2008
Region	Area Sales	Av. Price
East	265	$291,941
West	402	$332,113
Central	184	$470,324
North	193	$376,512
Total	1,044	$354,483

507-880 Dundas Street West in Dundas/Mavis Sold for 98% of List Price!

Vito Pirri — Mon, 10 Nov 2008 18:39:00 GMT

Dundas/Mavis, Mississauga - Vito Pirri is pleased to announce the sale of his listing at 507-880 Dundas Street West. Please contact me if you would like to know the sale price.

Property information

TREB President's Column from The Toronto Sun, November 7, 2008

Vito Pirri — Sat, 08 Nov 2008 13:33:00 GMT

Outlook still good for GTA

The Greater Toronto Area resale housing market has moderated in recent months, leaving many homeowners wondering about the future of real estate in our city. In response, the Toronto Real Estate Board recently invited senior executives from eight of Canada’s largest real estate companies to share their views on what’s next. The panelists, who represent such well known brands as Century 21, Coldwell Banker, Prudential, Right at Home, Royal LePage, Living Realty, RE/MAX and HomeLife, all agree that the future is bright for the GTA housing market.

Media coverage of the global financial crisis they say, has undermined consumer confi dence, causing the recent dip in real estate. Pointing to healthy indicators like strong employment, stable immigration and low interest rates, panelists are confi dent that economic fundamentals in Canada to support a healthy housing market will remain in place. Indeed, we have seen much more challenging times than these. Many of today’s homeowners can recall the days of the early ‘80s when interest rates peaked at more than 20 per cent and infl ation jumped to nearly 13 per cent, and the early ‘90s when massive lay-offs made the news headlines on a daily basis. In contrast, today’s interest and mortgage rates remain at historically low levels, infl ation sits at 3.5 percent and more than nine out 10 Canadians are working.

Comparing Canadian homeowners to those in the United States also illustrates our healthy situation. According to Canada Mortgage and Housing Corporation, only 0.27 per cent of Ontario mortgages are more than 90 days in arrears, this compares to 6 per cent during the recession of 1992. In the United States meanwhile, four per cent of prime mortgages and 18 per cent of sub-prime mortgages are in default. There is also much for Canadian homeowners to look forward to with respect to real estate values in the next decade as the children of our country’s 11 million baby boomers begin house hunting. According to one recent study, the number young adults currently living with parents in the GTA is 10 per cent higher than the national average. This group’s future demand for housing is coupled with the fact that Canada is ranked number one in terms of population growth amongst the G7 nations, with more than quarter of a million new immigrants each year.

A recent study by the International Monetary Fund substantiates what Canada’s top real estate experts already know. It studied housing markets in 17 countries and found that Canada was one of only two nations in which house prices are supported by the economy. According to CMHC, from 1999 to 2004 Canadian residential real estate offered an average annual growth of 6.8 per cent compared to only 5.8 per cent for equities and 5.3 per cent for bonds. All of these positive statistics point to a fairly quick return to good market conditions As anyone who has bought a home knows there is no better long term investment.

Housing has in fact, come to be viewed as a key driver of the economy. A recent study showed that the typical house sale contributes an average of about $32,000 into the greater economy through spin-offs like renovations, furniture sales and other purchases. This means that last year alone, Greater Toronto REALTORS® added about $3 billion to the local economy beyond monies exchanged in the actual transactions.

Maureen O’Neill is President of the Toronto Real Estate Board, a professional association that represents 28,000 REALTORS® in the Greater Toronto Area. For more information please visit www.TorontoRealEstateBoard.com.

Changing GTA Resale Housing Market Reflects Economic Times.

Vito Pirri — Wed, 05 Nov 2008 17:19:00 GMT

For the most current statistics, go to my website www.gtamoves.com
October 17, 2008 -- Activity in the Greater Toronto Area resale housing market moderated considerably during the first half of October with 2,700 homes changing hands, Toronto Real Estate Board President Maureen O’Neill announced today.
Sales volumes in the GTA decreased 18 per cent compared to the first half of October 2007, when 3,297 transactions were recorded and are down 10 per cent compared to the same period in 2006 when 3,007 sales took place.
In the City of Toronto 1,140 sales took place in the first half of this month. This represents a 21per cent decline from the 1,446 sales that took place in the same period a year ago and a 13 per cent decrease from the 1,312 transactions recorded in the first half of October 2006.
In the 905 Region there were 1,560 sales in the first two weeks of this month, a 16 per cent decrease from the 1,851 transactions that took place during the same timeframe in 2007 and down eight per cent from the 1,695 homes sold during the first half of October 2006.
House prices declined throughout the GTA during the first half of the month. The average priceof a GTA home is currently $353,772, down 11 per cent from $399,013 recorded the comparable period in 2007.
In the City of Toronto the current average price $375,804, a 15 per cent decrease from the $441,878 average recorded at mid-October 2007.
In the 905 Region the average price of a home is currently $337,671. This represents an eight per cent decline from the $365,527 average recorded during the first half of October 2007.
With 27,559 properties currently listed on the TorontoMLS system, there is now 30 per cent more available stock from which to choose as compared to a year ago when 21,182 homes were listed.
“More choice can mean slightly longer wait times for sellers whose homes are now on average, selling after 34 days on the market as compared to 29 days a year ago,” said Ms. O’Neill. “The list to sales ratio is 97 per cent of the list price.”
Increased sales activity was noted in specific pockets located throughout the GTA.
Sales in Oshawa (E16) increased 15 per cent compared to the first half of October 2007, based mainly on solid sales of detached homes.
In Brampton West (W24) sales in the first half of October increased 21 per cent compared to the same period a year ago mainly due to strong attached row house sales.
Downtown East (C08) experienced a 16 per cent overall increase in activity compared to mid-October 2007 primarily as a result of condominium apartment sales.
Newmarket saw a 17 per cent increase in sales compared to the first half of October 2007 as a result of strong condominium apartment and semi-detached home sales.
Previous news releases have incorporated 2006 comparisons. This was necessary in order to place the market statistics in a broader context. We will be referencing 2006 in its entirety at the end of the month when it will be more relevant.
“While we continue to watch the economic picture globally, it is the local real estate climate that will determine our market place,” said Ms. O’Neill. “After the 2007 record highs, 2008 is an encouraging market for buyers.”

Vito Pirri

Rent/Lease 102-111 Elizabeth Street in Downtown $1500.00/mth

376-314 John Street in Bayview/John is Sold!

GTA Resale statistics for the week ending November 27, 2008

November 2008 GTA Resale housing sales statistics.

Re/Max 2009 Housing Outlook Report (see my website to download the entire report; www.gtamoves.com)

GTA Weekly Sales Stats to November 20, 2008

The November 19, 2008 release of mid month GTA Sales Stats.

GTA weekly sales stats to November 13, 2008

About Canadian house prices...taken from www.reportonbusiness.com

Related Articles

GTA Real Estate sales statistics for October 2008

View on the GTA housing market from Michael Polzler, Exec. VP & Regional Director of Re/Max Ontario-Atlantic

GTA Weekly sales up to October 30, 2008

507-880 Dundas Street West in Dundas/Mavis Sold for 98% of List Price!

TREB President's Column from The Toronto Sun, November 7, 2008

Changing GTA Resale Housing Market Reflects Economic Times.