Stats -- First half of June 2009

[Observer Walt]

As reported today by the Toronto Real Estate Board: sales for the first half of June were 5,185, up from 4,374 for the same period last year. Average price was $407,716, up from $398,542.

It's too soon to make a "final final" call that the downward moving market is over, but it's a bit of evidence to contradict the Chicken Little types on this forum. We have now had several consecutive months of improvement over last year.

 

[DarnDirtyApe]

You are kidding, right? Better keep that 'mission accomplished' sign rolled up.

I can start by asking about the MEDIAN price, which seems to have been mysteriously omitted from the press release. Let's have an apples-to-apples comparison, at least.

These numbers also don't provide a breakdown between condo and house sales. A change in the mix of sales in favour of houses could boost the average or median sale price even though the value of all housing in aggregate is declining.

 

[Observer Walt]

Actually no, I wasn't kidding.

Agreed that the median prices would be nice to have, as they are a bit more meaningful than the average. They don't provide medians for the mid-month stats, but we will get them at month end. But this is not discouraging news, by any stretch, nor is it the first time recently that we have seen upward movement in sales volumes, and prices.

 

[Monaco]

Either way, the number of listings in my area are noticeable down. (I'm not that addicted to MLS.ca - I only check once per week!)

 

[cabbagetowner]

i think this will be a hiccup...certainly not the beginning of another rally. i'm happy to hear that the gta market is weathering the storm, but i think it's delaying the inevitable. i'm curious to know what other people on the forum think the june 2010 numbers will be. i think we will see -10 to -15% in median price in a year.

 

[Glen]

i think this will be a hiccup...certainly not the beginning of another rally. i'm happy to hear that the gta market is weathering the storm, but i think it's delaying the inevitable. i'm curious to know what other people on the forum think the june 2010 numbers will be. i think we will see -10 to -15% in median price in a year.

You are more optimistic than me. I am thinking -15 to -20%.