Toronto Real Estate Board

Toronto Real Estate Board

July 06, 2010 13:36 ET

GTA REALTORS® Report Monthly Resale Housing Figures

TORONTO, ONTARIO--(Marketwire - July 6, 2010) - Greater Toronto REALTORS® reported 8,442 sales through the Multiple Listing Service® (MLS®) in June.

This represented a 23 per cent decrease compared to the record 10,955 sales reported in June 2009. Sales for the second quarter of 2010 amounted to 28,810 – up one per cent annually. Year-to-date sales through June were up 23 per cent to 50,455 compared to the first six months of 2009.

"We experienced a record number of existing home sales during the first half of 2010, but these sales were weighted more towards the beginning of the year," said newly elected Toronto Real Estate Board President Bill Johnston. "The pace of home sales has moderated from record levels over the past two months with the prospect of higher mortgage rates."

The average price for June transactions was $435,034 – up eight per cent compared to the average of $403,972 recorded for June 2009.

"With more homes to choose from in the second quarter, many home buyers have been making less-aggressive offers. This has resulted in less upward pressure on the average selling price," said Jason Mercer, TREB's Senior Manager of Market Analysis. "The annual rate of average price growth in the second half of 2010 will be in the single digits."

Summary Of June Sales And Average Price     
       
  June    
  2010 2009    
  Sales Average Price Sales Average Price    
City of Toronto ("416") 3,428 $466,220 4,362 $441,703    
Rest of GTA ("905") 5,014 $413,712 6,593 $379,008    
GTA 8,442 $435,034 10,955 $403,972    
Source: Toronto Real Estate Board            
             
             
Sales & Average Price By Home Type
 
  June-2010
  Sales   Average Price  
  416 905 Total 416 905 Total
Detached 1,163 2,843 4,006 652,070 499,345 543,884
  Yr./Yr. % Change -27% -27% -27% 6% 12% 10%
Semi-Detached 430 537 967 486,592 338,766 404,500
  Yr./Yr. % Change -9% -23% -17% 7% 8% 9%
Townhouse 379 907 1,286 387,359 304,225 328,726
  Yr./Yr. % Change -22% -24% -24% 4% 6% 5%
Condo Apartment 1,432 592 2,024 332,992 247,662 308,034
  Yr./Yr. % Change -18% -2% -14% 10% 9% 8%
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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    Mary Gallagher
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