GTA REALTORS REPORTING JANUARY MID-MONTH HOUSING STATISTICS

January 18, 2010 - Great Toronto Realtors reported 1,749 existing home sales in the Multiple Listing Service 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 of $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 Mercer, TREB's Senior Manager of Market Analysis.

In the City of Toronto there have been 708 sales to date and the Average Price is $401,120.

Personally, we are seeing multiple offers on both resale homes and even some condo rentals. Inventory remains low. If you are interested in buying or renting, please contact us so we can notify you as soon as a suitable property becomes available.