GTA Resale Home Market Resilient in 2009

January 6, 2010 -- Greater Toronto REALTORS® reported 87,308 MLS® transactions in 2009 – a 17 per cent increase over 2008. This result included 5,541 sales in December. The 2009 result was in line with the healthy levels of sales experienced between 2004 and 2006, but lower than the record of 93,193 set in 2007.

“After a slow start to the year, existing home sales rebounded during the second half of 2009,” said TREB President Tom Lebour. “As consumer confidence improved, many households moved to take advantage of affordable home ownership opportunities in the GTA. The strong residential real estate sector was a key contributor to overall economic recovery in Canada.”

The average home price in 2009 climbed four per cent to $395,460. The average price for December transactions was $411,931.

“Market conditions became very tight in the latter half of 2009. Sales climbed strongly relative to the number of homes listed for sale, resulting in robust price growth that more than offset average price declines in the winter,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “A greater supply of listings in 2010 will see home prices grow at a sustainable pace.”

This chart plots the monthly MLS® sales for the current year and the previous three years. The recurring seasonal trend can be examined along with comparisons to previous years for each month.





This chart plots the monthly MLS® average home price for the current year and the previous three years. The recurring seasonal trend can be examined along with comparisons to previous years for each month.





For further information contact:
Zeenia Kola with Sales Representative with Re/Max Realty Specialists Inc. Brokerage.
Ph: 905-828-3434
Website: www.zeeniakola.com
Email: zeenia@zeeniakola.com
or visit
http://www.zeeniakola.com/AgentProfile/contactme.cfm

GTA Resale Housing Market Posts Best June on Record

This is the best news so far in the Real Estate Industry!!

The Greater Toronto REALTORS® reported a record 10,955 sales, up 27 per cent from June 2008. The seasonally adjusted annual rate of sales inJune was 100,700.1"The record result in June is testament to the fundamentally sound housing market in the GTA,"said the Toronto Real Estate Board’s newly appointed President Tom Lebour. "An increasingnumber of households have been confident in purchasing a home in the region’s affordable anddiverse resale housing market."The average price for June transactions was $403,972 – up by two per cent compared to thesame month last year."The re-emergence of seller’s market conditions has exerted upward pressure on home prices,"explained Jason Mercer, TREB's Senior Manager of Market Analysis. "Look for sales to remainhigh relative to listings in the second half of the year. This will keep home prices growing."

For a complete copy of the Market Watch visit http://www.zeeniakola.com/ShowResources.cfm?TypeOfPage=5&Page=1

or contact Zeenia Kola : 905-828-3434