GTA REALTORS® REPORT DECEMBER RESALE HOUSING MARKET FIGURES
TORONTO, January 6, 2010 --
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.”
Greater Toronto REALTORS® reported 87,308 MLS®
Posted by Ken Yeung
on January 16, 2010