TREB Reports Strong Growth in October MLS Transactions
TORONTO, November 4, 2009 -
In October 2009, Greater Toronto REALTORS® reported 8,476 sales, up 64 per cent from October 2008. The average price for Octobertransactions was $423,559 - up by 20 per cent compared to the same month last year. "Strong sales growth has occurred across many property classes - from price rangesthat would attract first-time buyers to luxury properties selling for over one milliondollars," said TREB President Tom Lebour. "The highest rate of sales growth in Octoberwas experienced for properties selling for over $750,000. In contrast, luxury home salesdeclined at an above-average rate last year."
Year-to-date sales, at 74,721, were up nine per cent compared to the first ten months of2008. Average price, at $392,264 was up by almost three per cent.
"After a short dip in the winter, the average home price in the GTA has reboundedbecause sales have been high relative to listings," according to Jason Mercer, TREB'sSenior Manager of Market Analysis. "Watch for listings to rebound in 2010 as homeowners react to the strong sales and price growth experienced in the latter half of thisyear."
Summary Of October Sales And Average Price
October 2009 2008
Sales Average Price Sales Average Price
City of Toronto ("416") 3,554 $464,212 2,136 $376,897
Rest of GTA ("905") 4,922 $394,205 3,019 $336,049
GTA 8,476 $423,559 5,155 $352,974
Source: Toronto Real Estate Board
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Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethicsand share a state-of-the-art Multiple Listing Service. Serving over 28,000 Members in the GreaterToronto Area, the Toronto Real Estate Board is Canada's largest real estate board. Greater Toronto Area
