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®

Ken Yeung

Ken Yeung

Broker
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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