2006 was extremely busy across the board, and there were considerably more properties available for sale during most of the year. Average prices rose by 5%, and the number of recorded sales, although lower by 1.3% from the 2005 figure, was nevertheless impressive at 83,084.

TREB has reported 6,772 sales last month, which is the second best February result in the history of the Toronto Real Estate Board, and 1% over record breaking January sales. The average price in February increased by four percent from February 2006, to $368,687.

In February, in central Toronto districts the average time on the market was 27 days, and the homes sold on average at 99% of the asking price. The quickest selling of the central districts was c02 at 15 days on the market. The highest percentage of the asking price was achieved in c10 (103%), followed by and c02, at 102% on average, and c04 at 101%. The average for c03, c08 and c11 was 100%.

In the west districts the average time on the market was 34 days (with a 19-day average for w01 and 20 days for w02) and the percentage of the asking price was 98 (102% for w01 and w02). In the east districts e02 was the busiest, as it seems to be historically, with the average time on the market at 16 days and the percentage of the asking price at 102%, while e01 recorded an average price to sale ratio of 104%, with an average time on the market of 17 days. The average e-districts time on the market was 35 days and the average sale to list price ratio was 98%. E03 sale to list price ratio was also above average, at 101%. It seems the listing prices in e01 tend to be below the market value in many cases - it looks like a marketing game to me.

Real Estate market in the north TREB districts averaged 41 days on the market, and 98% sale price to list price ratio.

As illustrated on one of the graphs below, the number of active listings in Toronto has been definitely higher then in the past during most of the last year, but then went down sharply towards year-end, and remains below 2005 level.

Following are statistical graphs illustrating the performance of Toronto real estate market since 2004.

If you have any questions regarding current Toronto real estate market, I will be glad to help. Please e-mail me at marisha@robinsky.com, or call me at 416-318-1457.