February Home Sales in Toronto On Record Setting Pace!

MID-FEBRUARY RESALE HOUSING MARKET FIGURES

 

TORONTO, February 18, 2010 -- Greater Toronto REALTORS reported 3,555 sales through

the Multiple Listing Service during the first two weeks of February.

 

This represented a 74 per cent increase compared to the 2,044 sales recorded during the

same period in 2009 when resale transactions had dipped due to the recession. The

February mid-month sales total was also 7.7 per cent above the previous high set in 2006.

 

"Home ownership demand remains strong in the GTA, as households remain confident

that economic recovery is at hand and that ownership housing will continue to be a

quality long-term investment," said Toronto Real Estate Board President Tom Lebour.

 

The average price for February mid-month transactions was $429,997 - an 18 per cent

increase over 2009. New Listings within the Toronto Real Estate Board boundaries were

up 15 per cent to 6,212.

 

"Double-digit price increases will persist through the first quarter of the year," said Jason

Mercer, TREB's Senior Manager of Market Analysis. "However, as new listings continue

to increase creating a better supplied market, we will see the annual rate of price growth

moderate into the single digits."

Asif Khan, Realtor

Re/Max All-Stars Realty Inc.

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Posted via email from Markham Real Estate Today with Asif Khan