TORONTO – Thursday, February 5, 2009 — TREB Members reported 2,670 sales in January from the 5,075 sales reported in the first month of 2008. Of these, 1,106 transactions took place in the City of Toronto compared to 2,128 in January 2008.

There were 2,577 sales in December 2008, compared to the 4,646 recorded during the same month in 2007, and the 4,447 recorded in December 2006. Sales for the whole of 2008 were 74,552, compared to the 93,193 recorded in 2007, and the 83,084 recorded during 2006.

The 2008 year-to-date sales for the GTA was recorded at 72,086 from last year’s 88,695. The year-to-date GTA average price was $379,489 from last year’s $375,445

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.

“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.”

“We’re going through a time of general economic malaise but it is not going to be prolonged and in the housing market we’re not going to see a reset because it wasn’t off in the first place,”

The media would like to have people believe that Toronto’s real estate market is in a post apocalyptic state. This is not so. There are Buyers and there are Sellers. Michael Manley, owner of Prudential Properties Plus in Toronto, has written an interesting article on the situation and current status of the market in downtown Toronto. Here it is.

In the City of Toronto, the current average price of $393,647 declined six per cent from the September 2007 average of $420,182. Compared to the September 2006 average of $371,682 though, prices in Toronto for September 2008 have increased six per cent.

TORONTO – Friday, July 4, 2008 — TREB Members reported 8,600 sales in June, TREB President Maureen O’Neill announced today. “Sales were down 18 per cent from the 2007 total of 10,451, which was the best performance ever for that month,” noted the president. “Nevertheless, the 8,600 figure is the fifth best June on record, [...]

The Greater Toronto Area (GTA) resale housing market continued at a moderate but healthy pace throughout the first half of June.