Sales Volume Statistics
2010 Monthly Sales versus 2009
The Toronto Real Estate Board reported 8,442 sales of single family homes in June 2010. This sales volume represents an 11 percent decline from the sales volume for May 2010 as well as a 23 percent decline from the sales volume reported for June 2009. Declining sales volumes at this time of year are not unusual as they typically signal the end of the Spring market and the onset of the Summer slowdown.
Annual Sales Volume 1980-2009
This chart graphically depicts the number of single family homes sold
in the years 1980 through to 2009. The volume of sales in the Toronto area experienced peaks in 1986 and 1988 followed by slow years during the early 1990's. Sales volume picked up from 1996 onwards. Sales of resale homes in 2007 were the highest recorded; the sales volume for 2009 was 6 percent lower than 2007.
[Note: the Toronto Real Estate
Board's geographic boundaries were changed during the period depicted in
the graph, so direct comparisons between 1996 and 1986 for example, are not valid]
Sales Year-To-Date
This chart depicts the number of resale homes sold to the end of June for each of the years 1991 through to 2010. In spite of the declining sales volumes in May and June, record high sales volumes for March and April have maintained 2010 on a par with the record breaking year of 2007. This situation is not expected to continue through the Summer.
Average Selling Prices
Average Selling Price 1980-2009
This chart presents average price trends for houses in the Toronto area
during the last 29 years. House prices clearly peaked in 1989 and then dropped until 1996. House prices have been steadily increasing during the last few years although not at the dramatic rates seen during the late 1980s. Prices levelled off during 2008, but resumed their upward climb in 2009.
Average Monthly Selling Price 2010 vs 2009
The average selling price of homes that sold during June was $435,034 - which represents a 3 percent decline from the $446,593 reported for May and the first such decline since January. June monthly average selling price remains approximately 8 percent higher than the $403,972 reported for June 2009. Average selling price reported on a monthly basis can be misleading as it is comprised of a combination of the real value of property plus the mix of higher priced to lower priced homes that have sold during the month. The mix of homes sold during June is depicted below in the Sales by Price Breakdown chart.
The average selling price year-to-date for 2010 is $434,075 - approximately 10 percent higher than the average selling price for 2009 of $395,460.
Inventory
This chart depicts the number of active listings (properties for sale)
on the Toronto Real Estate Board. There were 23,923 properties listed for sale in June 2010 which represents a 6 percent decline from the number of properties listed for sale in May, but is also now 28 percent higher than the number of properties listed for sale in June 2009. The number of new properties coming onto the market in June was 13 percent higher than a year ago which continues to maintain the inventory of properties for sale at normal levels for the time of year.
Home Sales by Type/Price
Home Sales by Type of Property:
This chart breaks down single family residential sales during June 2010 into the various different categories of property such as single family detached, semi-detached, townhouse etc. As always, single family detached
homes make up the bulk of all sales with condominium apartments coming
in second.
Home Sales by Price Range
This chart breaks down sales of single family homes during June 2010
into price ranges so that the most popular (highest selling) price ranges can be quickly determined. Homes in the $300,000 - $400,000 price range produced the highest sales volume during May. The mix between sales of higher priced homes versus lower priced homes directly affects the average selling price reported for the month.
