Home Re-sale Market (GTA - TREB areas)

	Homes Sold			Average Price
	2007		2008	2007	2008
Nov	7313		3640	$393,747		$368,582
Oct	7915		5155	$394,646		$352,974
Sept	6866		6424	$380,132		$368,549
August	8059		6318	$361,890		$364,886
July	8912		7806	$366,012		$371,427
June	8600		10451	$381,963		$395,866
May	9411		11146	$382,787		$398,148
April	8762		9452	$379,025		$398,687
March	6631		8518	$365,285		$380,338
February	6015		6772	$368,687		$382,048
January	5075		5173	$353,724		$374,449

Comparison of Homes Sold in 2007-2008

Comparison of Home Prices in 2007-2008

Market Facts
--Market is active with 3640 homes sold in Novermber 2008. --
--One out of seven homes in market will likely sell in Dec.08.--
--Average price has reduced from previous year--

Average Price History

2007	1998	1988	1978
$376,236	$216,815	$229,63	$67,333

Here is complete report on real estate market activity in GTA area..

Mortgage Rates Forecast:
(source CMHC)

- Posted rates for one year for 2009: 6.00-6.75%
- Posted rates for three and five-year: 6.75-7.25 %

Average Price Forecast:
(source CMHC)
-2008: $387,000 (increase by 2.65% from 2007)
-2009: $394,000 (increase by 1.8% from 2008)

Real Estate News Headlines
*3640 Homes Sold, average price $368,582 (Nov.2008-TREB)
*Buyers not deterred by doom and gloom reports -Toronto Star, Nov 24, 2008
*Prices beginning to stabilize in Toronto's soft real estate market, figures show - National Post, Nov 21, 2008
*Canada's housing boom over, but no collapse in sight: BNS -Financial Post, Nov 21, 2008
*Canadians confront housing market with caution and confidence - Canada News Wire, Nov 18, 2008
*Only One Person Knows a Home's Value: Its Buyer - Wall St. Journal, Nov 24, 2008
*Long term prospects for GTA condos glowing indeed -Financial Post, Nov 21, 2008

What Type of Seller are You?
There are 4 types of sellers in today’s market! Before you make any decisions about what to do with your home, you need to know what type of seller you are so that you can determine the market’s impact on your plan.

The key to making the best decision is to understand BOTH the market condition and the type of seller you are. There are four types…

1-Seller who is buying another home: This seller is in a great situation because they are not taking their equity out of the market! They may have to sell at a discount to get their home sold but they will also “buy” their next home at the same discount so they aren’t really losing any money at all.
2-Seller who is buying a more expesive home: This seller is in the best situation. The seller gets more discount on their next home and the next home price will appreciate more when market turns around. This way seller wins on both ends.
3-Seller who is downsizing or cashing out: This is a seller who has to sell in today’s market without a chance to wait 3 or 4 years for better prices to return. The bottom line is that they need to cut their losses… immediately. It is simply a function of a bad price now… or worse price later.
4-Seller who cannot sell:This is a seller who does not have the ability to sell at today’s prices. If you can’t cash enough equity out of the home to buy the next home or you don’t have enough equity in the home to sell at today’s prices then staying in the home may be the best option.

"Chance favours the prepared mind" - Louis Pasteur