Toronto Real Estate Board

Toronto Real Estate Board

May 19, 2010 10:17 ET

GTA REALTORS® Report Mid-Month Resale Housing Figures

TORONTO, ONTARIO--(Marketwire - May 19, 2010) - Greater Toronto REALTORS® reported 4,887 sales through the Multiple Listing Service® (MLS®) during the first two weeks of May.

This represented a seven per cent increase compared to the 4,561 sales recorded during the same period in 2009. New listings increased by 48 per cent annually to 10,059.

"The average household looking to purchase a home continued to benefit from affordable opportunities in the first half of May," said Toronto Real Estate Board President Tom Lebour.

"The number of done deals will remain high for the remainder of 2010, but will dip from record levels."

The average price for May mid-month transactions was $448,641 – up 12 per cent compared to the average of $399,811 recorded during the first 14 days of May 2009.

"The total number of homes currently listed in the GTA is now within a more normal range. As buyers benefit from more choice in the second half of 2010, average selling prices will grow at a slower pace," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Sales & Average Price By Home Type  
   
  May-2010     
  Sales       Average Price      
  416   905   Total   416   905   Total  
   
Detached 737   1,663   2,400   686,147   490,419   550,826  
  Yr./Yr. % Change 4 % 2 % 3 % 8 % 13 % 11 %
Semi-Detached 241   331   572   503,160   341,805   409,788  
  Yr./Yr. % Change 14 % 3 % 8 % 14 % 11 % 14 %
Townhouse 212   511   723   405,549   306,987   335,888  
  Yr./Yr. % Change 2 % 18 % 13 % 22 % 10 % 13 %
Condo Apartment 773   309   1,082   352,294   250,398   323,194  
  Yr./Yr. % Change 7 % 26 % 12 % 25 % 9 % 20 %
Source: Toronto Real Estate Board                        
 
Summary Of May Sales And Average Price
 
  May
    2010   2009
  Sales Average Price Sales Average Price
City of Toronto ("416") 1,984 $ 500,375 1,864 $ 439,459
Rest of GTA ("905") 2,903 $ 413,284 2,697 $ 372,408
GTA 4,887 $ 448,641 4,561 $ 399,811
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. 

Contact Information

  • For Media/Public Inquiries:
    Toronto Real Estate Board
    Mary Gallagher
    Manager Media Relations
    (416) 443-8158
    maryg@trebnet.com