Wednesday, September 7, 2011

Toronto Detached House Prices Down Month on Month

The median detached house price in the City of Toronto is down almost $15k month on month. City center condos eroded 5k month on month. Watch yourselves out there.

Toronto Real Estate Market Watch release for August.

Forget the averages the summary quotes. The medians are showing a significant shift.

(First off, I have to explain why I'm working with two months of data. The TREB, until July 2011 published some pretty useless reports. That just changed. I tried to go back and recreate at least some of the numbers, but without summary medians for regions with enough sales to compare month on month (600 or more) I can't safely work backwards. So, July and August is it for now. BTW, thank you TREB for fixing the reports.)

Median Prices For house types with a significant # of sales (I can't smooth so I can't handle any noise)
RegionJuly 2011August 2011
DETACH – TREB$493,000.00$499,000.00
DETACH – Peel$485,000.00$492,000.00
DETACH – York$595,000.00$605,000.00
DETACH – Durham$330,000.00$329,000.00
DETACH – Toronto City$550,000.00$535,500.00
SEMI – TREB$390,000.00$389,000.00
CONDO – TREB$304,000.00$300,000.00
CONDO – Toronto City$328,000.00$327,000.00
CONDO – Toronto Central$365,000.00$360,000.00
TOWN – TREB$375,000.00$378,000.00
TREB is the entire area covered by, well, TREB ;-)
CONDO is condo apartment

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