CMHC's Ontario regional economist Ted Tsiakopoulos agreed, noting that "while GTA existing home sales have remained strong, some moderation in activity should be expected. A ten year expansion in home prices and recent increases in mortgage rates have lifted home carrying costs. Nevertheless, strong condominium and townhome sales suggest consumers continue to have choices."
Sales of townhomes and detached homes in Markham / Unionville (N11) contributed to an overall increase in transactions of 54 per cent compared to 2005's mid-September results.
In the east, Guildwood / Scarborough Village (E08) showed an overall sales increase of 81 per cent to mid-September, compared to the same timeframe in 2005.
In the Islington / Kingsway area of Etobicoke (W08), 47 per cent more overall transactions took place in the first half of the month, compared to mid-September of last year.
North York City Centre East / Willowdale (C07) saw 55 per cent more overall sales compared to mid-month figures from 2005.
Prices continued their upward trend, with the mid-month average price of $335,208 eclipsing the mid-September 2005 mark of $328,266 by two per cent. Average prices year-to-date are five percent higher than figures reported to the same point in 2005.
"There is a good balance in the market," Mrs. Mason said. "Prices have risen but an increase in active listings is helping to avoid rapid price escalation. This benefits the market by maintaining affordability. It's an excellent time to be in the housing market."
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Toronto real estate. SEPTEMBER'S HOUSING MARKET UPDATE
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Reviewed by citra
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Rating : 4.5
Published :
Rating : 4.5