GTA May Resale Housing Sales Higher Than Last Year
Here are the May resale sales statistics for Toronto and the GTA as released by TREB. The most current statistics are on my website, www.gtamoves.com.
Toronto, June 3, 2009 - In May 2009, Greater Toronto REALTORS® reported 9,589 sales, up almost two per cent from May 2008 - the first annual incrase since December 2007. the seasonally adjusted annual rate of sales in may was 81,300.
"The resale housing market in the GTA has remained resilient in the face of challenging times globally," according to TREB President Maureen O'Neill. "Many home buyers have taken advantage of extremely low mortgage rates."
"The average resale home price has moved in line with last year's level because of tighter market conditions experienced this Spring," state Jason Mercer, TREB's Senior Manager of Market Analysis. "Home sales have increased strongly relative to new listings, bolstering home prices."
SUMMARY OF MAY SALES AND AVERAGE PRICE - 2009/2008
Toronto ("416"): 2009 Sales: 3,777 2009 Avg. Price: $432,478 2008 Sales: 3,711 2008 Avg. Price: $434,271
Rest of GTA ("905"): 2009 Sales: 5,812 2009 Avg. Price: $371,649 2008 Sales: 9,411 2008 Avg. Price: $374,629
GTA: 2009 Sales: 9,589 2009 Avg. Price: $395,609 2008 Sales: 9,411 2008Avg Price: $398,148