reported 3,631 sales – up 34 per cent compared to the first two weeks ofOctober 2008. The average price for these transactions was up 17 per cent year-overyear
to $414,479.
"While demand for existing homes has remained strong, it is important to recognize the
context of current statistics. We are now making comparisons to the fall of 2008 when we
experienced a marked decline in sales and average price," said TREB President Tom
Lebour.
Year-to-date sales, at 69,964 are up six per cent compared to 2008. Average price, at
$389,687, is up by two per cent.
"Tight market conditions throughout the GTA will continue to exert upward pressure on
home prices in the fourth quarter," explained Jason Mercer, TREB's Senior Manager of
Market Analysis. “Expect more listings in 2010 as home owners react to the price gains
experienced in the second half of 2009.”
Greater Toronto REALTORS® are passionate about their work. They adhere to a strict
Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 28,000
Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest
real estate board. Greater Toronto Area open house listings are now available on
www.TorontoRealEstateBoard.com.