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December 2009

GTA REALTORS® Report December Mid-Month Resale Housing Market Figures

TORONTO, December 17, 2009 - Greater Toronto REALTORS reported 3,079 existing home

transactions in the first two weeks of December compared to 1,487 in 2008. The strong

growth represents both increased home ownership demand and the fact that we are

comparing the recovery phase of the sales cycle this December with the contraction

phase experienced last winter

Year-to-date sales, at 84,888, were up 16 per cent compared to the same period last year

and have moved in line with the healthy levels experienced in the 2004 through 2006

period.

"We experienced a very strong and broad based recovery in the second half of 2009,"

said Toronto Real Estate Board President Tom Lebour. "The rebound in the housing

sector speaks to the confidence that households have in overall economic recovery.”

The average resale home price during the first two weeks of December rose 17 per cent to

$423,103. The year-to-date average was $395,411, up four per cent compared to the same

period in 2008.

“The double-digit price growth we have experienced since September will continue

through the first quarter of 2010. Average price growth will move to a sustainable pace in

the spring as listings increase," according to Jason Mercer, TREB's Senior Manager of

Market Analysis.

Summary Of December Sales And Average Price

December

2009 2008

Sales Average Price Sales Average Price

City of Toronto ("416") 1,343 $460,828 619 $382,759

Rest of GTA ("905") 1,736 $393,918 868 $344,887

GTA 3,079 $423,103 1,487 $360,652

Source: Toronto Real Estate Board

Greater Toronto REALTORS® 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. Greater Toronto Area

open house listings are now available on www.TorontoRealEstateBoard.com.