House prices up 19 % over same time last year !
The Toronto Real Estate Board reports an active market due to the excellent mortgage rates available .
TORONTO, 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 economic recovery this year vs. a period of economic decline last year
“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.”
TORONTO, 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 economic recovery this year vs. a period of economic decline last year
“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.”
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