GTA Home Sales in January 2010

February 4, 2010

Rise by John

In January 2010, Greater Toronto Realtors reported 4,986 MLS sales in GTA. Just for comparison, in January 2009 only 2,670 transactions were reported. That means a really significant, 87 percent increase!!! The sales this January were actually a little higher than the average of the first month of 5 years before 2009.

As the Toronto Real Estate Board President Tom Lebour claims “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.”

The average home price rose from $343,632 in January 2009 by 19 percent to as much as $409,058 last month. There was an increase in median home price too, as they rose to $350,000 from a year before, when the median price was $303,000.

Nice, isn’t it? 87 percent increase is a great result. True that last year was critical. Still, the market seems to be in a great condition at the moment,