Buyer Confidence Boosts GTA Home Sales!
Mid Feb 2010

"Home ownership demand remains strong in the GTA, as households remain confident that economic recovery is at hand and that owning a home will continue to be a quality long-term investment," said Toronto Real Estate Board President Tom Lebour.
The Greater Toronto Area MLS™ sales were 3,555 during the first two weeks of February 2010. This represented a 74 per cent increase compared to 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.

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, helping to satisfy some of the buyer demand.

"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."

In North York, total housing resales in January increased by +166% vs the same period last year. The average price was $492,251, which was +21% above last year.
As shown in the chart below, these increases were spread across most of the North York region. Much of this was led by very strong condo sales along the Sheppard Subway line corridor.
North York Sales and Prices by Neighbourhood

Neighbourhood January Average Price % Price change vs ‘09

Willowdale/Newtonbrook C14
$457,923
+38%

Willowdale/Lansing C07 $416,147 +7%

Dublin Heights/Bathurst C06 $518,172 +5%

Bayview Village C15 $439,856 +15%

York Mills C12 $1,427,850 +61%

Don Mills C13 $385,482 +8%

Downsview W05 $292,887 +5%

Condo Sales

Yonge Sheppard C07 – C14 $340,538 +23%

Bayview Sheppard C15 $335,964 +13%
Source: Toronto MLS

GTA REALTORS® REPORT 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."

Source: Toronto Real Estate Board