Toronto Real Estate Board

Toronto Real Estate Board

June 16, 2010 09:58 ET

GTA REALTORS® Report Mid-Month Resale Housing Figures

TORONTO, ONTARIO--(Marketwire - June 16, 2010) - Greater Toronto REALTORS® reported 4,139 sales through the Multiple Listing Service® (MLS®) during the first two weeks of June 2010.

This represented a 20 per cent decrease compared to the 5,185 sales recorded during the same period in 2009. New listings increased by 21 per cent annually to 7,985.

"The pace of existing home sales in the GTA has slowed to more normal levels following a record-setting start to 2010," said Toronto Real Estate Board President Tom Lebour.

"Due to higher mortgage carrying costs, sales in the second half of 2010 will not be as high as what was experienced during the last six months of 2009."

The average price for June mid-month transactions was $437,039 – up seven per cent compared to the average of $407,716 recorded during the first 14 days of June 2009.

"The seller's market conditions experienced during the first few months of the year have given way to more balanced conditions. Home buyers are experiencing more choice," said Jason Mercer, TREB's Senior Manager of Market Analysis. "With more choice in the market place, price growth is starting to slow."

Summary Of June Sales And Average Price
 
  June
  2010 2009
  Sales Average Price Sales Average Price
City of Toronto ("416") 1,681 $467,983 2,023 $449,946
Rest of GTA ("905") 2,458 $415,876 3,162 $380,698
GTA 4,139 $437,039 5,185 $407,716
 
Source: Toronto Real Estate Board      

 

Sales & Average Price By Home Type
 
  June-2010
  Sales Average Price
  416 905 Total 416 905 Total
 
Detached 567 1,429 1,996 657,790 493,480 540,367
  Yr./Yr. % Change -27% -24% -25% 4% 10% 8%
Semi-Detached 225 254 479 491,513 338,230 410,231
  Yr./Yr. % Change 7% -21% -10% 10% 7% 12%
Townhouse 186 439 625 373,971 312,167 330,560
  Yr./Yr. % Change -16% -26% -23% -1% 9% 6%
Condo Apartment 695 276 971 332,834 246,345 308,250
  Yr./Yr. % Change -13% 1% -9% 11% 12% 11%
 
Source: Toronto Real Estate Board

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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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