Market Update – Mid November 2009

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By Elli Davis, December 12, 2009

An Update From The Toronto Real Estate Board

Mid-Month Resale Housing Market Figures

In the first two weeks of November, Greater Toronto REALTORS® reported 3,666 sales - up 84 per cent compared to the first two weeks of November 2008.The average price for these transactions was up 10 per cent year-over year to $415,066.

According to Tom Lebour, Toronto Real Estate Board President, increased interest in ownership housing has been widespread throughout the GTA and across all housing types.

"However, it is important to point out that we are now making comparisons to the fall of 2008 when we experienced a marked decline in sales and average price."

Year-to-date sales, at 78,233 are up 11 per cent compared to 2008. Average price, at $393,180, is up by three per cent.

"Sales and average price in the GTA this winter will be well above levels reported throughout the fourth quarter of 2008 and the first quarter of 2009," according to JasonMercer, TREB's Senior Manager of Market Analysis.