Toronto, February 18, 2010 — Greater Toronto Realtors reported 3,555 sales through the Multiple Listing Service during the first two weeks of February.
This represented a 74 percent increase compared to the 2,044 sales recorded during the same period in 2009 when resale transactions had dipped due to the recession. The February mid-month sales total was also 7.7 percent above the previous high set in 2006.
“Home ownership demand remains strong in the GTA, as households remain confident that economic recovery is at hand and that ownership housing will continue to be a quality long term investment,” Said Toronto Real Estate Board President Tom Lebour.
The average price for February mid-month transactions was $429,997 – an 18 percent increase over 2009. New listings within the Toronto Real Estate Board boundaries were up 15 percent to 6, 212.
“Double-digit price increases will persist through the first quarter of the year,” said Jason Mercer, TREB’s Senior Manager of market Analysis. “However, as new listings continue to increase creating a better supplied market, we will see the annual rate of price growth moderate into the single digits.”
Greater Toronto REaltors are passionate about their work. They adhere to a strict Code of Ethics and share state-of-th-art Multiple Listing Service. Servince over 29,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largesst real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.