Toronto Real Estate Board

Toronto Real Estate Board

December 16, 2010 10:51 ET

GTA REALTORS® Report Mid-Month Resale Housing Market Figures

TORONTO, ONTARIO--(Marketwire - Dec. 16, 2010) - Greater Toronto REALTORS® reported 2,509 sales through the Multiple Listing Service® (MLS®) during the first two weeks of December 2010.

This represented a 19 per cent decrease compared to the 3,079 sales recorded during the same period in December 2009. Year-to-date sales amounted to 84,316 – down one per cent from the 2009 total of 84,888.

"While off the 2009 record, the level of December transactions remains strong from a historic perspective. The number of transactions in 2010 will be the third highest on record," said Toronto Real Estate Board President Bill Johnston.

The average price for December mid-month transactions was $435,225 – up three per cent compared to the average of $423,103 recorded during the first 14 days of December 2009.

"Market conditions remain tight enough to support moderate growth in the average selling price. Expect the three per cent annual rate of growth reported for the first two weeks of December to be the norm in 2011," said Jason Mercer, TREB's Senior Manager of Market Analysis. 

Summary Of December Sales And Average Price
         
  December
  2010 2009
  Sales Average
Price
Sales Average
Price
City of Toronto ("416") 1,083 $470,918 1,343 $460,828
Rest of GTA ("905") 1,426 $408,118 1,736 $393,918
GTA 2,509 $435,225 3,079 $423,103
         
Source: Toronto Real Estate Board         
             
Sales & Average Price By Home Type
             
  December-2010      
  Sales   Average Price  
  416 905 Total 416 905 Total
             
Detached 348 776 1,124 678,587 495,555 552,426
  Yr./Yr. % Change -24% -17% -19% 3% 3% 3%
Semi-Detached 95 161 256 495,815 339,641 397,596
  Yr./Yr. % Change -35% -13% -23% 10% 2% 3%
Townhouse 125 253 378 404,086 309,135 340,534
  Yr./Yr. % Change -10% -24% -20% 5% 4% 5%
Condo Apartment 502 202 704 344,733 248,391 317,089
  Yr./Yr. % Change -15% -11% -14% 4% 2% 3%
           
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 31,000 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.

For information about Buyer Representation Agreements (BRA) visit www.BRAFirst.ca.

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