Home > real-estate > GTA Housing Update, Sales & Average Price Seasonal pattern

GTA Housing Update, Sales & Average Price Seasonal pattern

I am shocked to see that the average single family house price for the first half of October 2010 is $444644! This is only two thousand dollars away from the all-time high of $446593 reached in May 2010… I thought house prices peaked in Spring and stayed flat or moved down for the rest of the seasons… but the chart below says something different

I will summarize the above chart to decide when house prices peak within a calendar year:

In which month do house prices peak in a year?

2006 2007 2008 2009 2010
April Oct April Oct May

And what about Sales activity?

 

2006 2007 2008 2009 2010
May May May June April

The above chart is based on the average price as reported by the Toronto Real-Estate Board… the following chart is based on the Teranet House Price Index and it tells a much different story… although I wouldn’t interpret the index data in the same way as raw price data mostly because of the index methodology.

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Dec Dec Dec Dec Dec Dec Dec Aug Dec Aug Dec Jul

It is clearly towards the end of the year and that is obviously due to the inherent inflation!

Update: Forgot to include seasonal sales pattern from Teranet House Price Index  data… Sales peak in the summer months of Jun-Aug

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Jun Aug Aug Jul Aug Jun Aug Jun Aug Aug Jul Jun
Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: