Here's what happening in Etobicoke!
In January 2009 there were 154 homes sold in Etobicoke
as compared to 144 in December 2008. This represents a .9 increase . Here
is the breakdown
Number of Homes Detached and Attached
Number 154 81 73
Days on Market 53 41 56
Average Sales Price $373130 $452075 $333317
Median Sales Price $347233 $385000 $328350
The number of sales were almost 1 percent more
than in December. This is surprising given the holiday sales activity would
be expected to decline, a greater than 1% increase in January would be expected.
The following numbers divide properties into detached homes
and attached. Attached homes are semi-detached,
Condo apartments, Link, Condo townhouse, Co-op apartments and Attached/Row/Townhouse.
At the end of January 2009 there were 1121 Etobicoke
homes for sale. ( 430 detached 691 attached homes) with sales of 154
units. At the same time 2008 January showed 1242 homes with sales of 274
units. This represents a 22% rate of sales as opposed to approximately
7.5% this year. The buyers have dropped off but the inventory is similar.
Decembers Sales were 7.5% as well and so far inventory levels have not
been affected. This will change.
Pending (Homes that have not sold)
In January 533 new homes came on the market. 588 were carried over from
December. During this time 967 homes went pending ( 365 detached, 602 attached)
as compared to 919 going pending in December (354 detached 565 attached)
The overview of the Etobicoke real estate market is based on information
provided by MLS for homes that went under contract in the last couple of
months and closed in December. More details can be provided if needed with
regard to current activity as well as within specific postal codes of Etobicoke
or West Toronto.
Mortgage Rate Watch and Comparison
