GTA REALTORS® Report February Resale Housing Market Figures

March 3, 2010 -- Greater Toronto REALTORS® reported 7,291 sales through the Multiple Listing Service® (MLS®) in February, representing a 77 per cent increase over February 2009. The average price for these transactions was up 19 per cent year-over-year to $431,509. Sales and average price increases represent both increased demand for ownership housing and the base year effect, which involves a comparison of economic recovery this year to a period of economic decline last year.

“Increases in existing home sales and average price were noted across the GTA in low-rise and high-rise home types. Similar rates of growth were experienced in the City of Toronto and surrounding 905 regions,” said TREB President Tom Lebour. “This suggests that first time, move-up and down sizing buyers are all active in the existing home marketplace.”

New listings also increased in February, climbing 24 per cent compared to the same month last year.

“Annual growth in new listings is expected to continue. New listings growth will start to outstrip sales growth as we move through 2010,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “As the market becomes better supplied, we will see more sustainable single-digit rates of price growth.”

Median Price
In February, the median price was $366,300, from the $312,900 recorded during February of 2009.

This info is courtesy of the Toronto Real Estate Board.

Be sure that one of the most important financial decisions of your life is the right one: choose a Toronto Real Estate Board REALTOR® to guide you through the process of buying or selling your home.


REALTORS® are licensed professionals who must abide by a strict code of ethics and meet continuing education requirements to maintain their status.


Only REALTORS® have access to the Multiple Listing Service (MLS®), a state-of-the-art database of property information that is designed to match people with the properties that fit their exact requirements.


The MLS® system is one way REALTORS® provide their clients with insight into market trends and current market values of similar properties.


REALTORS® can also advise you about current Government Programs that benefit consumers, and use their experience to offer valuable information about the character and amenities of specific neighbourhoods.

When dealing with the purchase or sale of your home, you need the best advice possible. Get it from someone who will commit in writing to represent your interests. Use a Toronto Real Estate Board REALTOR® and have the confidence that a professional is on
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