GTA Real­tors report­ing Sep­tem­ber real estate mar­ket figures

In Sep­tem­ber 2009, Toronto real estate agents reported 8,196 sales, up 28% from Sep­tem­ber 2008. The aver­age price for Sep­tem­ber trans­ac­tions was $406,877 – up by more than 10% com­pared to the same month last year.

“We have expe­ri­enced an increas­ing rate of exist­ing home price growth in the GTA as sales have con­tin­ued to out­pace 2008 results,” said Toronto Real Estate Board Pres­i­dent Tom Lebour. “Con­sumers have remained con­fi­dent in own­er­ship hous­ing as a long-term investment.”

Year-to-date sales, at 66,437 were up 4.5% com­pared to the first nine months of 2008. Aver­age price, at $388,417 was up by almost 1.5%.

Com­ment: So we have 4 straight months of increases – both in sales vol­ume and in aver­age price – with each month’s increase grow­ing. And we have totals to date both up. I am not even sure this can be called a rebound, is it not just a con­tin­u­a­tion of the growth we have seen for the past 13 years, but for a minor blip in the fall and winter?

“Exist­ing home sales will fin­ish strong this year, push­ing through the 80,000 mark and mov­ing in line with some of the best years on record under the cur­rent TREB mar­ket area,” accord­ing to Jason Mer­cer, TREB’s Senior Man­ager of Mar­ket Analysis.

Com­ment: Heck, 2009 could end up set­ting the record for the best year ever.

Sum­mary Of Sep­tem­ber Sales And Aver­age Price

City of Toronto (sales +31.2% | price +11.1%)
2009 Sales: 3,341 | Aver­age Price: $437,182
2008 Sales: 2,546 | Aver­age Price: $393,648

Rest of GTA (sales +25.2% | price +9.6%)
2009 Sales: 4,855 | Aver­age Price: $386,022
2008 Sales: 3,878 | Aver­age Price: $352,071

All of the GTA (sales +27.6% | price +10.4%)
2009 Sales: 8,196 | Aver­age Price: $406,877
2008 Sales: 6,424 | Aver­age Price: $368,549

Source: Toronto Real Estate Board

Toronto real estate agents are pas­sion­ate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Mul­ti­ple List­ing Ser­vice. Serv­ing over 28,000 Mem­bers in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board.

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