Toronto - Wednesday, 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.”
Median Price The median price in January was $350,000 from the $303,000 recorded during January 2009
