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May 2009 Market Watch Report Results are in!
Make sure to check back on July 6th 2009 for the June 2009 Report!
*Click Here for Printable & Easy to Read PDF Version!
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Toronto Real Estate Board
Average Price vs. Mortgage Rates 1999 |
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Paul’s Short Term and Long Term Predictions: |
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- Prices have climbed to the levels of May 08 pricing due to low interest rates and lack of supply.
- Prices will flatten and start to fall soon
- Rates are beginning to Creep up – Get ready for a Turn in the market !!
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Toronto Real Estate Board
Residential Average Price 1995 |
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Paul’s Short Term and Long Term Predictions: |
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- Prices have been ascending consistently since 1997 up until April of 2008.
- The drop in price from in November represents a very similar kind of market to the 85-89 boom.
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Toronto Real Estate Board
Average Price vs. Interest Rate Comparison - 72 to Date
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Paul’s Short Term and Long Term Predictions: |
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- Rates are still low.
- 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.
- October average price of 2008 is 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).
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Toronto Real Estate Board
New vs. Active Listings - January 1990 To Date |
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Paul’s Short Term and Long Term Predictions: |
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- April 09 listing count 24,000, April 08 listing count was approx 27,000.
- May 09 listing count 22,000, May 08 listing count was approx 27,000
- Inventory is down!
- Buyers are struggling to find product to buy.
- The immigration is still very high in the GTA. There are 150,000 new people moving into
the GTA every year.
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Toronto Real Estate Board
Listing vs. Sales Ratio 1990 |
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Paul’s Short Term and Long Term Predictions: |
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- 1 in 3 houses are selling every 30 days – we are back to a sellers market.
- The red line shows the direction the market is headed – back into a buyers market and quickly.
- Historically we have been in the 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.
- If we experience even half the decline of the 1990 crash we can expect at least a year and a half of a 10 month supply of homes (It’s practically already happening!)
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Toronto Real Estate Board
# Units Sold vs. Average Price 2000 To Date |
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Paul’s Short Term and Long Term Predictions: |
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- May 2009’s sales were slightly more than May 2008.
- Toronto has a very unique real estate market – Come back and visit this page in early
July to find out what happens in June !!
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Toronto Real Estate Thornhill Markham Vaughan Newmarket Scarborough
Paul Zammit Real Estate Ltd., Brokerage
60 Green Lane Unit #1, Thornhill Ontario L3T 7P5
Phone: (905) 881-2181 Fax: (416) 946-1307 Toll Free:1-800-443-9636 Email: team@zammit.com
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