GTA REALTORS® Report August Mid-Month Resale Market Figures

TORONTO, August 18, 2009

"The results for the first half of August indicate that many households in the GTA remain confident in their ability to purchase and pay for a home over the long term," said TREB President Tom Lebour.

Year-to-date sales, at 54,303 are up slightly compared to 54,138 in 2008. Average price, at $385,603 is down by less than one half of one per cent.

"Strong resale housing demand will contribute to broader economic recovery as each transaction results in substantial spin-off benefits to other sectors of the economy," explained Jason Mercer, TREB's Senior Manager of Market Analysis.

- In the first two weeks of August, Greater Toronto REALTORS® reported 3,832 sales – up 27 per cent compared to the first two weeks of August 2008. The average price for these transactions was up three per cent year-over-year to $383,796.

Summary Of August Sales And Average Price

August                                    2009                                                        2008

                                                Sales              Average Price                Sales        Average Price

City of Toronto ("416")     1,465               $391,252                     1,192        $394,563

Rest of GTA ("905")           2,367               $379,181                      1,827       $360,326

GTA                                       3,832               $383,796                      3,019       $373,844

Source: Toronto Real Estate Board                

Olivera Mavrak

Olivera Mavrak

CENTURY 21 Heritage Group Ltd., Brokerage*
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