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
“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.”
In January, the median price was $350,000, from the $303,000 recorded during January of 2009.
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