October stats for Toronto

All quiet on the Toronto front. Almost.

Generally, collapse still hasn't appeared (if you have read my prediction on Toronto condos site about the future of Canadian real estate, you shouldn't be surprised), but the situation on the market reflects the post-boom mood and the financial situation in the world.

Canadian financial institutions are one of the soundest in the world so we are protected against similar wave as occured in the USA. But still, prices and sales are declinining.

Prices went down by 10% compared to October 2007 and -1% to October 2006. This is significant annual drop, on the other hand it's still the effect of falling from the 2007 peak.

Sales were down by 35% (25% down from 2006), in the City of Toronto reaching even -38%. Slightly over 5000 items were sold, on the other hand, new listings were up only 9% annually, with stabilized active listings record (around 27000 items since summer).

To sell a house it's still easy (with the right Toronto real estate agent .) Your  property should spend less than 40 days on the market - this has hardly changed (+1 day) from the summer.

Who had awaited some surprising boom of sales was disapointed. Luckily, who had awaited collapse of the real estate market, was disapointed too. People are still buying homes for their families...