|
Market Watch October 2009
We Watch The Real Estate Market like a Stockbroker!
Check back December 7th for the November 2009 Results
Click Here for the Printable & Easy to Read PDF Version!
| |
Toronto Real Estate Board
Average Price vs. Mortgage Rates 1999 to Date |
 |
|
 Paul’s Short Term and Long Term Predictions: |
|
|
| |
Toronto Real Estate Board
Residential Average Price 1995 to Date |
 |
| |
Paul’s Short Term and Long Term Predictions: |
| |
|
| |
Toronto Real Estate Board
Average Price vs. Interest Rate Comparison - 72 to Date
|
 |
|
Paul’s Short Term and Long Term Predictions: |
| |
- Rates are still low. Toronto mortgage rates are very attractive !
- The 36 year view of rates as you can see are on the low side comparably speaking over the last 36 years – we are now the lowest rates in a very long time !!
- The October average price of 2008 was starting to look like the demise of the 1989 market.
- The recovery of the highest point of the average price since 1989 took 12 yrs for Toronto pricing to catch up to that level again (2001).
- The largest volume of sales in the 80s was in 1987.
- The recovery to achieve the same similar volume of sales in 1987 took 11 years to rebound (1997).
|
| |
Toronto Real Estate Board
New vs. Active Listings - January 1990 to Date |
 |
|
Paul’s Short Term and Long Term Predictions: |
| |
- Inventory levels were recently at 16800 in September vs. any other previous September where listings were at levels of 26-27000 listings - Inventory is down!
- Toronto and surrounding area real estate buyers are struggling to find product to buy.
- Immigration is still very high in the Toronto Area. There are approx. 150,000 new people moving into the GTA every year.
|
| |
Toronto Real Estate Board
Listing vs. Sales Ratio 1990 to Date |
 |
|
Paul’s Short Term and Long Term Predictions: |
| |
- 1 in 2 houses are now selling every 30 days - we are back to a STRONG sellers market.
- The red line shows the direction the market is headed – back into a buyers market !
- Historically we have been in a seller’s market consistently for the last 6 yrs.
-
Looking back to 1990 when the market was at its worst, there were levels of an average of a 1 year supply of homes for a 2 year period. (We are in a different market now - rates are way lower currently than they were back in those days).
|
Toronto Real Estate Thornhill Markham Vaughan Newmarket Scarborough
Paul Zammit Real Estate Ltd., Brokerage
60 Green Lane #1, Thornhill Ontario L3T 7P5
Phone: (905) 881-2181 Fax: (416) 946-1307 Toll Free:1-800-443-9636 Email: team@zammit.com
|
|
