TORONTO, October 19, 2009 - In the first two weeks of October, Greater Toronto
REALTORS® reported 3,631 sales – up 34 per cent compared to the first two weeks of
October 2008. The average price for these transactions was up 17 per cent year-overyear to $414,479.
"While demand for existing homes has remained strong, it is important to recognize the context of current statistics. We are now making comparisons to the fall of 2008 when we experienced a marked decline in sales and average price," said TREB President TomLebour.
Year-to-date sales, at 69,964 are up six per cent compared to 2008. Average price, at
$389,687, is up by two per cent.
"Tight market conditions throughout the GTA will continue to exert upward pressure on
home prices in the fourth quarter," explained Jason Mercer, TREB's Senior Manager of
Market Analysis. “Expect more listings in 2010 as home owners react to the price gains experienced in the second half of 2009.”
