Toronto Central Real Estate

Strong Spring Results Continue - May 2010

Greater Toronto REALTORS® reported 4,887 sales through the Multiple Listing Service® (MLS®) during the first two weeks of May. This represented a seven per cent increase compared to the 4,561 sales recorded during the same period in 2009. New listings increased by 48 per cent annually to
10,059.

“The average household looking to purchase a home continued to benefit from
affordable opportunities in the first half of May,” said Toronto Real Estate Board
President Tom Lebour. "The number of done deals will remain high for the remainder of 2010, but will dip from record levels.”

The average price for May mid-month transactions was $448,641 – up 12 per cent compared to the average of $399,811 recorded during the first 14 days of May 2009. "The total number of homes currently listed in the GTA is now within a more normal range. As buyers benefit from more choice in the second half of 2010, average selling prices will grow at a slower pace," said Jason Mercer, TREB's Senior Manager of Market Analysis.

May 2010 Average Price % Change vs 2009
City of Toronto (416) $500,375 +14%
Detached $686,147 +8%
Semi-Detached $503,160 +14%
Townhouses $405,549 +22%
Condo Apartments $352,294 +25%

North York Sales and Prices by Neighbourhood

Neighbourhood Average Price % Price change vs ‘09

Willowdale/Newtonbrook C14
$511,999
+10%

Willowdale/Lansing C07 $448,910 +21%

Dublin Heights/Bathurst C06 $499,441 -3%

Bayview Village C15 $466,054 +27%

York Mills C12 $1,505,767 +17%

Don Mills C13 $442,412 +18%

Downsview W05 $332,128 +18%

Source: Toronto MLS