thinktorontohomes.com homeabout uscontact us
when you think real estate...
BUYERS  |  SELLERS  |  LISTINGS  |  FREE HOME EVALUATION  |  NEW LISTINGS NOTIFIER

« GTA REALTORS® REPORTING JANUARY MID-MONTH HOUSING STATISTICS | Main | 2009 Year in Review - Outlook of 2010 »

GTA REALTORS® REPORT DECEMBER RESALE HOUSING MARKET FIGURES

TORONTO, January 6, 2010 -- Greater Toronto REALTORS® reported 87,308 MLS® transactions in 2009 – a 17 per cent increase over 2008. This result included 5,541 sales in December. The 2009 result was in line with the healthy levels of sales experienced between 2004 and 2006, but lower than the record of 93,193 set in 2007.

“After a slow start to the year, existing home sales rebounded during the second half of 2009,” said TREB President Tom Lebour. “As consumer confidence improved, many households moved to take advantage of affordable home ownership opportunities in the GTA. The strong residential real estate sector was a key contributor to overall economic recovery in Canada.”

The average home price in 2009 climbed four per cent to $395,460. The average price for December transactions was $411,931.

“Market conditions became very tight in the latter half of 2009. Sales climbed strongly relative to
the number of homes listed for sale, resulting in robust price growth that more than offset average price declines in the winter,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “A greater supply of listings in 2010 will see home prices grow at a sustainable pace.”

Posted on Wednesday, January 6, 2010 at 02:50PM by Registered CommenterElaine in | CommentsPost a Comment

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
All HTML will be escaped. Hyperlinks will be created for URLs automatically.