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Real Estate Sales in May 2009 better than May 2008

Friday, March 9, 2018   /   by Ruth Ballantyne

Real Estate Sales in May 2009 better than May 2008

Hello Friends.  Well it was a much longer process than we thought it would be adding this to the website but we are up and Running.  In case you missed our last email here it is:
Just a short note to let you know what is happening in the Real Estate Market in the GTA.  Today we received great news.  The sales in May 2009 were better than the sales in May 2008.  This is the first concrete stat that has shown how hot the market is in the GTA.  The full article is below.  

Also I had a note from our Mortgage Broker that rates have jumped up. She wrote:  "Well the bond yields has been doing well over the last few weeks, as you are aware the fixed rate money is based on the “bond yields”, because the yields have been increasing, we saw this coming, yes, the 5 year fixed has moved up and some of the lenders have increased their 7 and 10 year rates."  

So to avoid further dissappointment call me today @ 905-456-1000 ext. 3344 and let me get you a pre-approval (that will last for up to 3 Months) at the best rate offered today.  We don't know how long these low low rates will last and we don't want to miss out if they go up further.  

 

Don't forget to check out the website for all kinds of Real Estate Info.  www.RuthBallantyne.com

 

GTA May Resale Housing Sales Higher Than Last Year
 

TORONTO, June 3, 2009 - In May 2009, Greater Toronto REALTORS® reported 9,589 sales,

up almost two per cent from May 2008 – the first annual increase since December 2007. The

seasonally adjusted annual rate of sales in May was 81,3001.

 

“The resale housing market in the GTA has remained resilient in the face of challenging times

globally,” according to TREB President Maureen O’Neill. “Many home buyers have taken

advantage of extremely low mortgage rates.”

 

The average price for May transactions was $395,609 – down less than one per cent compared

to the same month last year.

 

“The average resale home price has moved in line with last year’s level because of tighter

market conditions experienced this Spring,” stated Jason Mercer, TREB’s Senior Manager of

Market Analysis. “Home sales have increased strongly relative to new listings, bolstering home

prices.”

 

                                    Sales Average Price    Sales Average Price

City of Toronto ("416") 3,777 $432,478           3,711 $434,271

Rest of GTA ("905")     5,812 $371,649           5,700 $374,629

GTA                            9,589 $395,609            9,411 $398,148

SUMMARY OF MAY SALES AND AVERAGE PRICE - 2009/2008May 2009/ 2008

Source: Toronto Real Estate Board

1Seasonally adjusting TREB MLS® data removes recurring seasonal trends observed each year. For example, MLS® sales are highest in late

spring each year and lowest in the winter months. Removing the recurring seasonality, allows for the analysis of a meaningful trend reflecting

actual changes in market conditions. By multiplying the monthly seasonally-adjusted figure by 12, creating an annual rate, we can compare how

the current month relates to historical annual figures.

 

For a complete copy of the Market Watch Report Contact Ruth@RuthBallantyne.com

 

 

 

 


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Brampton, ON L6W 3R1
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Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®.
Information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®. Copyright 2021 Last Updated June 22, 2021
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