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| Victoria Golovnia
Sales Representative
Sutton Group Admiral Realty Inc., Brokerage | |
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Toronto Real Estate Blog |
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| Saturday, 06 February 2010, 12:41:42 PM | | | | TORONTO, February 3, 2010 -- Greater Toronto REALTORS® reported 4,986 transactions
through the Multiple Listing Service (MLS®) in January 2010. This result represented a large
increase over the 2,670 sales in January 2009 when the home sales were in a recessionary
trough. Last month’s sales were slightly higher than the January average in the five years
preceding 2009.
The GTA housing market has rebounded well from the lows in sales experienced at the
beginning of 2009. Sales climbed back to healthy levels across the GTA because the cost of
home ownership remained affordable in the Toronto area,” said TREB President Tom Lebour.
“Increasingly confident consumers moved to take advantage of affordable home ownership.”
The average home selling price in January 2010 climbed 19 per cent to $409,058, compared to 343,632 in the same month last year.
Expect strong annual growth rates for existing home sales and average price through the first
quarter as we continue to make comparisons to the weak market conditions at the beginning of 2009, said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The rate of sales and
price growth will be lower in the second half of 2010. | |
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| Tuesday, 12 January 2010, 08:08:51 AM | | | | The Toronto real estate was very tight in December 2009, with almost half the listings of 2008 resulting in price growth in several districts.
The number of MLS sales was also lower with only 5,541 homes sold compared to the highest month of June 2009 when 10,955 homes sold. But that is not unexpected as the Toronto real estate market generally slows down at the end of the year.
The average Toronto area resale price dropped to $411,931 from October’s high water mark of $423,559.
Here is a summary of the 2009 Toronto area MLS sales and average price, by month:
Jan: 2,670 | $343,632
Feb: 4,120 | $361.305
Mar: 6,171 | $362,050
Apr: 8,107 | $385,641
May: 9,589 | $395,609
Jun: 10,955 | $403,972
Jul: 9,967 | $395,414
Aug: 8,035 | $387,921
Sep: 8,196 | $406,877
Oct: 8,476 | $423,559
Nov: 7,446 | $418,460
Dec: 5,541 | $411,931
Market conditions in December 2009 saw 10,292 active listings, down 47% from 19,468 in December 2008. But sales were way up, with 115% more than the 2,577 sales in December 2008. | |
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