GTA REALTORS® REPORTING MARCH MID-MONTH HOUSING STATISTICS
TORONTO, MARCH 17, 2010
- Greater Toronto REALTORS® reported 4,353 sales through
the Multiple Listing Service® (MLS®) during the first two weeks of March.
This represented a 70 per cent increase compared to the 2,562 sales recorded during the
same period in 2009 when resale transactions had dipped markedly due to the recession.
The mid-month sales total was also 16 per cent higher than the previous March mid-
month high reached in 2006.
“The spring-like weather in the first half of March brought the first green sprouts of the
recurring spring market. Every year, monthly sales climb steadily through May,” said
Toronto Real Estate Board President Tom Lebour. "People are buying homes because
they are confident in the current economic recovery and mortgage payments on the
average priced home remain affordable."
The average price for March mid-month transactions was $440,153 – a 20 per cent
increase over 2009. New listings within the Toronto Real Estate Board boundaries were
up 34 per cent to 8,540.
"Look for double-digit annual price increases to cease later in 2010, as new listings
rebound from the low levels experienced in 2009," said Jason Mercer, TREB's Senior
Manager of Market Analysis. "Increased listings will give buyers more choice, resulting in
less upward pressure on home prices.”
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