GTA home sales up 50% first two weeks December over same time 2008

GTA REALTORS® Report December Mid-Month Resale Housing Market Figures
TORONTO, December 17, 2009 – Greater Toronto REALTORS reported 3,079 existing home transactions in the first two weeks of December compared to 1,487 in 2008. The strong growth represents both increased home ownership demand and the fact that we are comparing the recovery phase of the sales cycle this December with the contraction phase experienced last winter.

Year-to-date sales, at 84,888, were up 16 per cent compared to the same period last year and have moved in line with the healthy levels experienced in the 2004 through 2006 period.

“We experienced a very strong and broad based recovery in the second half of 2009,” said Toronto Real Estate Board President Tom Lebour. “The rebound in the housing ector speaks to the confidence that households have in overall economic recovery.”

The average resale home price during the first two weeks of December rose 17 per cent to 423,103. The year-to-date average was $395,411, up four per cent compared to the same
period in 2008.

The double-digit price growth we have experienced since September will continue through the first quarter of 2010. Average price growth will move to a sustainable pace in the spring as listings increase,” according to Jason Mercer, TREB’s Senior Manager of
Market Analysis.
Summary Of December Sales And Average Price
December
2009 2008
Sales Average Price Sales Average Price
City of Toronto (“416”) 1,343 $460,828 619 $382,759
Rest of GTA (“905”) 1,736 $393,918 868 $344,887
GTA 3,079 $423,103 1,487 $360,652

Source:The Toronto Real Estate Board

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Whether you’re buying or selling and looking for a Toronto Realtor or feel free to e-mail or phone us and we will be happy to guide you through your real estate experience.

I’m never too busy for any of your referrals

Diane Plant, Broker
Re/Max Realtron Realty Inc, Brokerage
(416) 782-8882 TORONTO REAL ESTATE WEBSITE

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