August 2010 TREB mid-month update

TORONTO, August 17, 2010

Greater Toronto REALTORS® reported 2,732 sales

through the Multiple Listing Service® (MLS®) during the first two weeks of

August 2010.

This represented a 29 per cent decrease compared to the 3,832 sales

recorded during the same period in 2009. New listings, at 4,770 were down

eight per cent compared to the first two weeks of August 2009.

“Throughout the better part of the last year, the number of monthly sales

was well above the expected long-term trend. Accordingly, it makes sense

that the number of transactions has dipped over the past few months in

comparison to last year’s record results,” said Toronto Real Estate Board

President Bill Johnston.

The average price for August mid-month transactions was $412,934 – up

eight per cent compared to the average of $383,796 recorded during the

first 14 days of August 2009.

“We have seen a sufficient number of buyers relative to sellers over the

summer months to support continued year-over-year price growth in the

GTA,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

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Luci Rizzo

Luci Rizzo

Sales Representative
CENTURY 21 Percy Fulton Ltd., Brokerage*
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