Greater Toronto REALTORS® Report Monthly Resale Hous­ing Mar­ket Figures

Greater Toronto REALTORS® reported 6,310 sales through the Mul­ti­ple List­ing Ser­vice® (MLS®) in Sep­tem­ber 2010. This rep­re­sented a 23% decrease com­pared to the 8,196 sales recorded dur­ing the same period in 2009. Through the first nine months of the year, sales amounted to 69,069 – up 4% com­pared to the first three quar­ters of 2009.

Toronto Real Estate Sep­tem­ber Sales

“The level of sales in the sec­ond half of 2010 has been lower, rep­re­sent­ing a bal­anc­ing out period fol­low­ing record lev­els of sales in the lat­ter half of 2009 and first few months of 2010. We remain on track for one of the best years in his­tory for exist­ing home trans­ac­tions in the GTA,” said Toronto Real Estate Board Pres­i­dent Bill Johnston.

The aver­age price for Sep­tem­ber trans­ac­tions was $427,329 – up 5% com­pared to the aver­age of $406,877 reported in Sep­tem­ber 2009. The aver­age sell­ing price through the first nine months of the year was $429,657. “Resale homes in the GTA remain afford­able,” said Jason Mer­cer, TREB’s Senior Man­ager of Mar­ket Analysis.

Toronto Real Estate Sep­tem­ber Prices

“It is impor­tant to con­sider the pos­i­tive impact of declin­ing mort­gage rates over the past two decades. Sim­ply con­sid­er­ing home prices rel­a­tive to incomes does not allow for an accu­rate analy­sis of afford­abil­ity,” con­tin­ued Mer­cer. “The share of aver­age house­hold income going toward a mort­gage pay­ment on the averag priced home in the GTA remains within accepted lend­ing guide­lines. This is why the aver­age home sell­ing price has con­tin­ued to grow.”

Toronto Real Estate Sep­tem­ber Affordability

Sum­mary Of Sep­tem­ber Sales And Aver­age Price

City of Toronto (sales –25.2% | price +6.6%)
2010 Sales: 2,499 | Aver­age Price: $465,890
2009 Sales: 3,341 | Aver­age Price: $437,182

Rest of GTA (sales –21.5% | price +4.2%)
2010 Sales: 3,811 | Aver­age Price: $402,044
2009 Sales: 4,855 | Aver­age Price: $386,022

All GTA (sales –23.0% | price +5.0%)
2010 Sales: 6,310 | Aver­age Price: $427,329
2009 Sales: 8,196 | Aver­age Price: $406,877

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