TORONTO, February 3, 2010 — Greater Toronto REALTORS® reported 4,986 transactions
through the Multiple Listing Service (MLS®) in January 2010. This result represented a large
increase over the 2,670 sales in January 2009 when the home sales were in a recessionary
trough. Last month’s sales were slightly higher than the January average in the five years
preceding 2009.
“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,” said TREB President Tom Lebour.
“Increasingly confident consumers moved to take advantage of affordable home ownership.”
The average home selling price in January 2010 climbed 19 per cent to $409,058, compared to
343,632 in the same month last year.
“Expect strong annual growth rates for existing home sales and average price through the first
quarter as we continue to make comparisons to the weak market conditions at the beginning of
2009,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The rate of sales and
price growth will be lower in the second half of 2010.”
Summary Of January Sales And Average Price
January
2010 2009
Sales AveragePrice Sales Average Price
City of Toronto(“416”) 1,973 $428,151 1,106 $364,416
Rest of GTA (“905”) 3,013 $396,556 1,564 $328,935
GTA 4,986 $409,058 2,670 $343,632
Source: Toronto Real Estate Board