Toronto & GTA mid May 2009 Sales statistics for pre-owned homes from TREB
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Greater Toronto Resale Housing Sales Up in First Half of May
Toronto, May 19, 2009 - Greater Toronto REALTORS® reported 4,561 transactions in the first half of May - an increase of three per cent compared to May 2008.
"Members reported a rise in buying activity this month," said TREB President Maureen O'Neill. "Many home buyers who were undecided about purchasing a home during the winter months are now proceeding with confidence as a result of the GTA's housing market's affordability."
The average price for MLS® sales was in line with last year, down by less than one-half of one per cent at $399,811.
"More sales and fewer listings resulted in tighter market conditions which pushed the average selling price back up to last year's level," according to Jason Mercer, TREB's Senior Manager of Market Analysis. "Look for new listings to increase as home owners react ot the positive news surrounding home sales and prices."
May 2009 Mid-Month Statistics Year-Over-Year Regional Breakdown
City of Toronto (416): 2009 Sales 1,864 Average Price $439,459 2008 Sales 1,734 Average price $437,205
Rest of GTA (905): 2009 Sales 2,697 Average Price $372,408 2008 Sales 2,688 Average price $377,344
GTA: 2009 Sales 4,561 Average Price $399,811 2008 Sales 4,422 Average price $400,817