In the first two weeks of October, G.T.A Realtors reported 3,631 sales-up 34% compared to the first two weeks of October,2008. The average
price for these transactions was up 17% year-over-year to $414,479.
" While the demand for existing homes has remained strong, it is important to recognize the context of the current statistics. We are now making
comparisons to the fall of 2008 when we experienced a market decline in sales and average price, "said TREB President Tom Lebour.
Year-to-date sales, at 69,964 are up 6% compared to the same time in 2008. Average price is up by 2%.
" Tight market conditions throughout the G.T.A. will continue to exert upward pressure on home prices in the fourth quarter", explained James
Mercer, TREB's Senior Manager of Market Analyses. "Expect more listings in 2010 as home owners react to the price gains experienced in the
second half of 2009."