Greater Toronto 2009 average home price increased 4%

January Newsletter 2010

GTA Resale Market Resilient in 2009

January 6, 2010 — Greater Toronto REALTORS® reported 87,308 MLS® 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.”

  Units Units Av price Av price
Month 2008 2009 2008 2009
January 5075 2670 $374,449 $343,632
February 6015 4120 $382,048 $361,305
March 6631 6171 $380,338 $362,050
April 8762 8107 $398,687 $385,641
May 9411 9589 $398,148 $395,609
June 8600 10955 $395,866 $403,972
July 7806 9967 $371,427 $395,414
August 6318 8035 $364,886 $387,921
September 6424 8196 $368,549 $406,877
October 5155 84.76 $352,974 $423,559
November 3640 7446 $368,582 $418,460
December 2577 5541 $361,415 $411,931
Total 74,551 87,308 $379,347 $395,460

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I proudly server buyers and sellers in the Toronto Neighbourhoods of: Forest Hill, Cedarvale, North York, North Toronto, Summit Heights, Wilson Height, Bathurst Manor, Leaside, Bayview, Thornhill, Richmond Hill and all surrounding areas.

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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