John Pasalis in Toronto Real Estate News
The Toronto Real Estate Board reported 1,749 existing home sales on the Multiple Listing Service (MLS®) during the first two weeks of January. This result was almost double the 888 sales reported for the same period in 2009, when sales had dipped to a recessionary low.
“We have had a strong start to 2010,” said Toronto Real Estate Board President Tom Lebour.
“Widespread sales growth in terms of geography and housing type indicates that many
households remain confident in their ability to purchase and pay for a home over the long-term.”
The average price for transactions in the first two weeks of January was $395,307, compared to an average of $332,495 for the same period in 2009.
“Double-digit average annual price growth will continue through the first quarter of 2010 as sales remain high relative to listings and we continue to make comparisons to last year’s winter downturn,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
John Pasalis is the Broker owner of Realosophy Realty Inc in Toronto. Realosophy Realty focuses on researching Toronto neighbourhoods to help their clients make smarter real estate decisions.
Ok,
Isnt it the worst time to sell in the winter? I dont think this stat tells us that people are wanting and hungry to buy houses...
this stat tells us that people are wanting to sell to badly that their willing to live on the cold TO streets!! Any thoughts?
dbax
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Posted by: darrick baxter | February 03, 2010 at 09:16 PM
Thanks so much for the information. Great real estate stuff.
Posted by: Selling a property | March 05, 2010 at 05:01 AM