THE DAVISVILLE & LEASIDE INSIDER

THE DAVISVILLE & LEASIDE INSIDER

Wednesday, March 17, 2010

GTA REALTORS® Reporting March Mid-Month Housing Statistics

TORONTO, ONTARIO--(Marketwire - March 17, 2010) - Greater Toronto REALTORS® reported 4,353 sales through the Multiple Listing Service® (MLS®) during the first two weeks of March.

This represented a 70 per cent increase compared to the 2,562 sales recorded during the same period in 2009 when resale transactions had dipped markedly due to the recession. The mid-month sales total was also 16 per cent higher than the previous March mid- month high reached in 2006.

"The spring-like weather in the first half of March brought the first green sprouts of the recurring spring market. Every year, monthly sales climb steadily through May," said Toronto Real Estate Board President Tom Lebour. "People are buying homes because they are confident in the current economic recovery and mortgage payments on the average priced home remain affordable."

The average price for March mid-month transactions was $440,153 – a 20 per cent increase over 2009. New listings within the Toronto Real Estate Board boundaries were up 34 per cent to 8,540.

"Look for double-digit annual price increases to cease later in 2010, as new listings rebound from the low levels experienced in 2009," said Jason Mercer, TREB's Senior Manager of Market Analysis. "Increased listings will give buyers more choice, resulting in less upward pressure on home prices."

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2 comments:

  1. When the market is hot it's hot. I too feel consumer confidence is back amongst my friends and colleagues. It in nice to see more listing and choice. Of course the weather is bringing in spring nicely too.

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  2. It's great to see things on the up swing, but you might want to invest in Canada's Island Paradise as well. PEI waterfront and water view property is by far the best deal of its kind in the U.S. and Canada. The Muskoka's are a bit o.t.t., so why not snap up a piece of Prince Edward Island for that much needed escape from the urban chaos.

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