Toronto Real Estate Board

Toronto Real Estate Board

August 17, 2010 09:39 ET

GTA REALTORS® Report Mid-Month Resale Housing Figures

TORONTO, ONTARIO--(Marketwire - Aug. 17, 2010) - Greater Toronto REALTORS® reported 2,732 sales through the Multiple Listing Service® (MLS®) during the first two weeks of August 2010.

This represented a 29 per cent decrease compared to the 3,832 sales recorded during the same period in 2009. New listings, at 4,770 were down eight per cent compared to the first two weeks of August 2009.

"Throughout the better part of the last year, the number of monthly sales was well above the expected long-term trend. Accordingly, it makes sense that the number of transactions has dipped over the past few months in comparison to last year's record results," said Toronto Real Estate Board President Bill Johnston.

The average price for August mid-month transactions was $412,934 – up eight per cent compared to the average of $383,796 recorded during the first 14 days of August 2009.

"We have seen a sufficient number of buyers relative to sellers over the summer months to support continued year-over-year price growth in the GTA," said Jason Mercer, TREB's Senior Manager of Market Analysis. 

Sales & Average Price By Home Type
 
August-2010
 
  Sales   Average Price  
  416 905 Total 416 905 Total
 
Detached 296 945 1,241 635,107 482,492 519,100
  Yr./Yr. % Change -36% -29% -31% 15% 7% 9%
Semi-Detached 118 184 302 450,272 343,819 385,413
  Yr./Yr. % Change -17% -22% -20% 10% 9% 10%
Townhouse 109 317 426 358,246 303,804 317,734
  Yr./Yr. % Change -41% -29% -32% 8% 4% 5%
Condo Apartment 505 196 701 315,993 258,789 299,999
  Yr./Yr. % Change -24% -32% -26% 8% 6% 8%
 
Source: Toronto Real Estate Board            
 
  Summary Of August Sales And Average Price
   
        August  
           
      2010   2009
    Sales Average
Price
Sales Average
Price
  City of Toronto ("416") 1,040 $425,874 1,465 $391,252
  Rest of GTA ("905") 1,692 $404,980 2,367 $379,181
  GTA  2,732 $412,934 3,832 $383,796
 
  Source: Toronto Real Estate Board        

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 30,000 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.

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