Leaside sales came down by 33%, but the average sale price climbed by 13%.
Surprisingly, the listing price versus the sale price decreased from 104% to 97%, which is a relatively modest decline compared to other Toronto neighbourhoods.
As I have mentioned before, Leaside buyers don’t appear to be too concerned about the economic turmoil in the U.S. and Canada.
Will they be proven right? The jury is still out.
Leaside
|
July to September 2007 |
July to September 2008 |
% Change |
||
|
Number of Sales |
45 |
Number of Sales |
30 |
Down 33% |
|
Average Sale Price |
$785,291 |
Average Sale Price |
$889,453 |
Up 13% |
|
Median sale Price |
$700,000 |
Median sale Price |
$800,000 |
Up 14% |
|
% of List Price |
104.23 |
% of List Price |
97.47 |
Down 6% |
|
Days on the Market |
17 |
Days on the Market |
18 |
Up 5% |
There were 2,546 transactions recorded last month in the City of Toronto, an 11 per cent decline from the 2,854 sales in September 2007, and a five per cent drop from the 2,680 sales in September 2006.
The average price of $393,647 came down six per cent from the September 2007 average of $420,182.
The Greater Toronto Area (GTA) showed a six per cent decline with 6,424 homes changing hands last month, compared to the 6,866 sales that took place in September 2007. The GTA resale housing market has seen home sales decline by 14 per cent from the 73,827 transactions recorded a year ago.
There have been 63,595 sales through the Toronto MLS system this year. In the City of Toronto, year-to-date sales have declined 16 per cent from last year’s figure of 30,059 to 25,257 transactions in 2008.
I will be reporting changes in these areas as they occur, so be sure to check back for the latest updates.
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{ 3 comments… read them below or add one }
One wonders if it might be possible that with only 30 sales a few expensive homes might drive up the average price in the area despite falling numbers of homes sold. The small number of homes even at 45 last year is not a very large sample and the standard deviation would be very large indeed. Perhaps this kind of statistic may be somewhat misleading to consumers… John
John – Appreciate your comments. Statistics can be confusing and subject to interpretation.
I used the 3 month reporting period to give a broader perspective.
I have to weigh in on John Applebaums side…yes statistics can be confusing and subject to interpretation but one needs a much larger sample size to have anywhere near accurate numbers…Rosalin, I would not use averages…for such a small number of homes it might be better to list all the sales and let your audience make their own minds up. Otherwise, John is correct, this is misleading to the consumer. Many thanks for all your efforts. Samuel
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