Episode 242 of the Toronto Real Estate Musing daily video blog. This is Week 32 of the Beach real estate market for the period of Monday Aug 9 to Sunday August 15, 2010.
We remain in a regular summer market that some have forgot about because last year’s summer market was so strong.
Properties Sold in The Beach, aka TREB district E02
- Freeholds: 1 this week, 5 previous week, 15 last year same week, 4 in 2008 same week and 0 in 2007 same week
- Condos: 0 this week, 0 previous week, 2 last year same week, 1 in 2008 same week and 0 in 2007 same week
Median Sold Price:
- Freehold: $361,000 this week, $580,000 previous week and $495,000 last year same week
- Condo: no sales this week, no sales previous week and $349,000 last year same week
Properties For Sale
- Freehold: 99 this week, down 8% and 107 previous week
- Condos: 18 this week, down 10% and 20 previous week
Median Asking Prices
- Freehold: $599,000 last week and $574,000 previous week
- Condos: $319,700 last week and $324,900 previous week
Last year’s summer’s market spiked for several reasons, including: pent-up demand after the winter recession between October 2008 and March 2009, a rush to buy because of talk of HST which was introduced this year, a rush to buy due to fear of rising interest rates, and a general optimism that the Canadian economy was not going to mirror the U.S. economy.
Data is obtained from the Toronto Real Estate Board, with analysis performed by O’Neill Real Estate Limited.
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