The Toronto Real Estate Board (TREB) released statistics today showing that 4,986 transactions took place through the Multiple Listing Service (MLS®) in January 2010. This result almost doubles the 2,670 sales in January 2009, when fears of an economic collapse causes resale levels to tank.
The January 2010 sales figures are only slightly higher than the January average in the five years prior to 2009.
“The GTA housing market has rebounded well from the lows in sales experienced at the beginning of 2009. Sales climbed back to healthy levels across the GTA because the cost of home ownership remained affordable in the Toronto area,” said TREB President Tom Lebour.
Mr. Lebour added that “…increasingly confident consumers moved to take advantage of affordable home ownership.”
The average resale price in January 2010 climbed 19 per cent to $409,058, compared to $343,632 in January 2009.
TREB expects strong annual growth rates for existing home sales and average prices to continue through the first quarter, but to trend lower in the second half of 2010.
Wed, Feb 3, 2010
Housing Market, News