Toronto Real Estate Board

Toronto Real Estate Board

August 18, 2009 11:14 ET

GTA REALTORS® Report August Mid-Month Resale Market Figures

TORONTO, ONTARIO--(Marketwire - Aug. 18, 2009) - In the first two weeks of August, Greater Toronto REALTORS® reported 3,832 sales - up 27 per cent compared to the first two weeks of August 2008. The average price for these transactions was up three per cent year-over-year to $383,796.

"The results for the first half of August indicate that many households in the GTA remain confident in their ability to purchase and pay for a home over the long term," said TREB President Tom Lebour.

Year-to-date sales, at 54,303 are up slightly compared to 54,138 in 2008. Average price, at $385,603 is down by less than one half of one per cent.

"Strong resale housing demand will contribute to broader economic recovery as
each transaction results in substantial spin-off benefits to other sectors of the economy," explained Jason Mercer, TREB's Senior Manager of Market Analysis.



Summary Of August Sales And Average Price
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August
2009 2008
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Sales Average Price Sales Average Price
City of Toronto ("416") 1,465 $391,252 1,192 $394,563
Rest of GTA ("905") 2,367 $379,181 1,827 $360,326
GTA 3,832 $383,796 3,019 $373,844
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Source: Toronto Real Estate Board


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