Toronto real estate agents report Decem­ber real estate mar­ket figures

Greater Toronto real estate agents reported 87,308 MLS trans­ac­tions in 2009 – a 17% increase over 2008. This result included 5,541 sales in Decem­ber. The 2009 result was in line with the healthy lev­els of sales expe­ri­enced between 2004 and 2006, but lower than the record of 93,193 set in 2007.

Toronto real estate MLS sales trend

“After a slow start to the year, exist­ing home sales rebounded dur­ing the sec­ond half of 2009,” said Toronto Real Estate Board Pres­i­dent Tom Lebour. “As con­sumer con­fi­dence improved, many house­holds moved to take advan­tage of afford­able home own­er­ship oppor­tu­ni­ties in the GTA. The strong res­i­den­tial real estate sec­tor was a key con­trib­u­tor to over­all eco­nomic recov­ery in Canada.”

The aver­age home price in 2009 climbed 4% to $395,460. The aver­age price for Decem­ber trans­ac­tions was $411,931.

Toronto real estate prices

“Mar­ket con­di­tions became very tight in the lat­ter half of 2009. Sales climbed strongly rel­a­tive to the num­ber of homes listed for sale, result­ing in robust price growth that more than off­set aver­age price declines in the win­ter,” said Jason Mer­cer, the Toronto Real Estate Board’s Senior Man­ager of Mar­ket Analy­sis. “A greater sup­ply of list­ings in 2010 will see home prices grow at a sus­tain­able pace.”

Sum­mary Of Decem­ber Sales And Aver­age Price

City of Toronto (sales +117.5% | prices +13.9%)
2009 Sales: 2,403 | Aver­age Price: $441,607
2008 Sales: 1,105 | Aver­age Price: $387,482

Rest of GTA (sales +131.2% | prices +13.9%)
2009 Sales: 3,138 | Aver­age Price: $389,205
2008 Sales: 1,472 | Aver­age Price: $341,847

All of GTA (sales +115.1% | prices +13.9%)
2009 Sales: 5,541 | Aver­age Price: $411,931
2008 Sales: 2,577 | Aver­age Price: $361,415

Toronto real estate MLS price trend

Source: Toronto Real Estate Board

Greater 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 29,000 Mem­bers in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board.

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