Rise of median house prices between 2007 and 2009

By Elli Davis, January 5, 2010

Exterior Forest Hill
101 Old Forest Hill Road

Real estate market in GTA is on the best way to completely recover! I'm saying this because of the positively looking changes in numbers of median home prices. According to the new Toronto Real Estate Board monthly report, in 2009, the GTA median resale price was $353,800, which means a 13.3 percent increase from 2007.

Prices increased in many neighborhoods in GTA, including Toronto's well known Forest Hill and Rosedale. In some areas, for example the northeast of Orangeville, the increases were even more than 40 percent, which is a great result. On the negative side, though, in 13 out of 86 areas, the prices in 2009 were still lower than in 2007. Uxbridge and King got the worst results, with as much as 30 percent decrease.

f we take the overall result, the market was up. 13.3 percent is not bad and well, it's true that 13 out of 86 areas are below the 2007 level, but that only makes up for a little more than 15 percent of researched areas. Not bad indeed.

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