GTA Realtors Reporting January Mid-Month Housing Statistics

Toronto, January 18, 2010 – Greater Toronto Realtors reported 1,749 existing h0me sales on the Multiple Listing Service (MLS) during the first two weeks of January.   This result was almost double the 888 sales reported for the same period in 2009, when sales had dipped to a recessionary low.

“We have had a strong start to 2010,” said Toronto Real Estate Board President Tom Lebour.  “Widespread sales growth in terms of geography and housing type indicates that many households remain confident in their ability to purchase and pay for a home over the long term.”

The average price for transactions in the first two weeks of January was $395,307, compared to an average $332,495 for the same period in 2009.

“Double-digit average annual price growth will continue through the first quarter of 2010 as sales remain high relative to listings and we continue to make comparisons to last year’s winter downturn,”  said Jason Percer, TREB’s Senior Manager of Market Analysis.

Summary of January Sales and Average Price

  2010 2009
  Sales Average Price Sales Average Price
City of Toronto 708 $401,120 369 $350,835
Rest of GTA 1,041 $391,353 519 $319,455
GTA 1,749 $395,307 888 $332,495