Greater Toronto REALTORS®
reported 4,986 transactions
through the Multiple Listing Service
(MLS®) in January 2010. This
result represented a large increase
over the 2,670 sales in January
2009 when the home sales were in
a recessionary trough. Last month’s
sales were slightly higher than the
January average in the five years
preceding 2009.
“The GTA housing market has
rebounded well from the lows in
sales experienced at the beginning
of 2009. Sales climbed back
to healthy levels across the GTA
because the cost of home ownership
remained affordable in the Toronto
area,” said TREB President Tom
Lebour. “Increasingly confident
consumers moved to take advantage
of affordable home ownership.”
The average home selling price in
January 2010 climbed 19 per cent
to $409,058, compared to 343,632
in the same month last year.
“Expect strong annual growth rates
for existing home sales and average
price through the first quarter as we
continue to make comparisons to
the weak market conditions at the
beginning of 2009,” said Jason
Mercer, TREB’s Senior Manager of
Market Analysis. “The rate of sales
and price growth will be lower in
the second half of 2010