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Toronto Real Estate Board:
GTA Realtors report mid-October sales and average price stats.
In the first two weeks of October, Greater Toronto Realtors reported 3,631 sales – up 34 per cent compared to the first two weeks of October 2008. The average price for these transactions was up 17 per cent year-over-year to $414,479.
"While demand for existing homes has remained strong, it is important to recognize the context of current statistics. We are now making comparisons to the fall of 2008 when we experienced a marked decline in sales and average price," said TREB President Tom Lebour.
Year-to-date sales, at 69,964 are up six per cent compared to 2008. Average price, at $389,687, is up by two per cent.
"Tight market conditions throughout the GTA will continue to exert upward pressure on home prices in the fourth quarter," explained Jason Mercer, TREB's Senior Manager of Market Analysis. “Expect more listings in 2010 as home owners react to the price gains experienced in the second half of 2009.”
See the Toronto Real Estate Board report »
October 19, 2009 | Permalink
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Comments
So much information, thank you i'll be bookmarking this page
Posted by: Sarah Nicely | Nov 16, 2009 4:44:51 PM
This is the sign of increased profit margins and returns as Sales increased by 34% resulting in increased rate of returns accordingly .
Posted by: John Beck | Nov 3, 2009 2:33:24 AM
This is great news. I think that this stat shows an upward trend that will lead to a really strong 1st quarter in 2010.
Posted by: Glynn Williams | Oct 28, 2009 11:16:16 AM
This is great news. Sales increased by 34% and the best part is even the average rates are increased. Now we can hope for some great results coming out from real estate market in 2010.
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