Greater Toronto REALTORS® Report May Resale Housing Market Figures TORONTO, June 3, 2011 - Greater Toronto REALTORS® reported 10,046 sales in May 2011 - up six per cent compared to May 2010. This result was the second best on record for May under the current Toronto Real Estate Board service area. The number of new listings in May, at 16,076, was down 15 per cent compared to last year. "Positive economic news and low borrowing costs led to strong sales through the first five months of the year, including the increase in May," said Toronto Real Estate Board President Bill Johnston. "At the same time, the market has become much tighter compared to last year, due to a substantial dip in newlistings." Homes were on the market for an average of 23 days and sold for an average price of $485,520- up nineper cent compared to $446,593 in May 2010. The strongest rate of price growth was experienced for single-detached homes sold in the City of Toronto. "We have seen clear-cut seller's market conditions emerge over the past two to three months," explained Jason Mercer, TREB's Senior Manager of Market Analysis. "The robust price appreciation that we have seen will hopefully prompt more households to list, resulting in a more balanced market later this year,"   GTA REALTORS® Report Mid-Month Resale Housing Market Figures TORONTO, November 16, 2010 -- Greater Toronto REALTORS® reported 3,076 sales through the Multiple Listing Service® (MLS®) during the first two weeks of November 2010. This represented a 16 per cent decrease compared to the 3,666 sales recorded during the same period in November 2009. Year-to-date sales amounted to 78,526 - up slightly from the 2009 total. "The number of transactions remained high relative to new listings through the first half of November, promoting a healthy rate of price growth compared to last year," said Toronto Real Estate Board President Bill Johnston. The average price for November mid-month transactions was $437,554 - up more than five per cent compared to the average of $415,066 recorded during the first 14 days of November 2009. "Mortgage payments on the average priced home remain affordable in the GTA based. This is why the average selling price continues to increase," said Jason Mercer, TREB's Senior Manager of Market Analysis. TORONTO - November 3, 2010 October 2010 Greater Toronto REALTORS® reported 6,681 sales through the Multiple Listing Service® (MLS®) in October 2010. This represented a 21 per cent decrease compared to the 8,476 sales recorded in October 2009. Through the first ten months of the year, sales amounted to 75,582 -up one per cent compared to the January through October period in 2009."The annual change in sales and average selling prices has been quite uniform acrossthe GTA and by property type as the market has balanced out from record levelsof sales in the second half of 2009 and first few months of 2010," said Toronto Real Estate Board (TREB) President Bill Johnston. "The composition of GTA home sales does differ depending on location. Condominium apartments accounted for 42 per cent of total sales in the City of Toronto and almost 60 per cent of sales in TREB'scentral districts," Johnston continued. "In regions surrounding the City of Toronto, in contrast, low rise home types accounted for almost 90 per cent of transactions." The average price for October transactions was $443,729 - up five per cent compared to the average of $423,559 reported in October 2009. The average selling price through the first nine months of the year was $430,802. "The average selling price in the GTA has continued to grow relative to 2009 because home ownership has remained affordable," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis. "A household earning the average income in the GTA can comfortably afford the mortgage payments associated with the purchase of an average priced home." "The outlook for mortgage rates and income growth over the next year is favorable. The average home selling price could increase moderately next year and remain affordable for the average GTA household," continued Mercer. Median Price In October, the median price was $366,000, from the $357,000 recorded during October of 2009.   Housing Market Conditions Remain Healthy in September TORONTO - Tuesday, October 5, 2010 SINGLE FAMILY RESIDENTIAL BREAKDOWN Annual Average and Median Price Greater Toronto REALTORS® reported 6,310 sales through the Multiple Listing Service® (MLS®) in September 2010. This represented a 23 per cent decrease compared to the 8,196 sales recorded during the same period in 2009. Through the first nine months of the year, sales amounted to 69,069 - up four per cent compared to the first three quarters of 2009. "The level of sales in the second half of 2010 has been lower, representing a balancing out period following record levels of sales in the latter half of 2009 and first few months of 2010. We remain on track for one of the best years in history for existing home transactions in the GTA," said Toronto Real Estate Board President Bill Johnston.   The average price for September transactions was $427,329 - up five per cent compared to the average of $406,877 reported in September 2009. The average selling price through the first nine months of the year was $429,657. "Resale homes in the GTA remain affordable," said Jason Mercer, TREB's Senior Manager of Market Analysis. "It is important to consider the positive impact of declining mortgage rates over the past two decades. Simply considering home prices relative to incomes does not allow for an accurate analysis of affordability," continued Mercer. "The share of average household income going toward a mortgage payment on the average priced home in the GTA remains within accepted lending guidelines. This is why the average home selling price has continued to grow."   Median Price In September, the median price was $360,325, from the $347,000 recorded during September of 2009.     August Sales and New Listings Down, Prices Up     Greater Toronto REALTORS® reported 6,232 sales through the Multiple Listing Service® (MLS®) in August 2010. This represented a 22 per cent decrease compared to the 8,035 sales recorded during the same period in 2009. New listings decreased by one per cent year-over-year to 10,488.   "The prospect of interest rate hikes and new mortgage lending rules prompted some households to purchase a home sooner than they otherwise would have this year. The result has been a larger than normal dip in sales over the summer months. With this said, it is important to recognize that sales on the year were eight per cent higher than in 2009," said Toronto Real Estate Board President Bill Johnston.   The average price for August transactions was $411,012 - up six per cent compared to the average of $387,921 reported in August 2009.   "Market conditions have remained tight enough to support higher home prices in comparison to last year. Under current mortgage lending standards, a household earning the average income in the GTA can comfortably afford the mortgage payments on an average priced home. Market conditions and the affordability picture would have to change dramatically before a sustained drop in the average selling price would take place," said Jason Mercer, TREB's Senior Manager of Market Analysis.   MEDIAN PRICE In August, the median price was $358,000, from the $338,000 recorded during August of 2009. TORONTO, September 16, 2010 ‐ Greater Toronto REALTORS® reported 2,623 sales through the Multiple Listing Service® (MLS®) during the first two weeks of September 2010. This represented a 22 per cent decrease compared to the 3,361 sales recorded during the same period in 2009. Year-to-date sales amounted to 65,455, representing a six per cent increase compared to 2009. "Sales remain below the record pace we experienced in the second half of 2009. The prospect of higher interest rates and new mortgage lending guidelines resulted in higher than normal sales in the first few months of the year. To balance this out, the pace of sales has slowed in the second half," said Toronto Real Estate Board President Bill Johnston. "It is important to note that year-to-date sales remain above the number reported through the same period last year," added Johnston. The average price for September mid-month transactions was $412,367 - up five per cent compared to the average of $393,818 recorded during the first 14 days of September 2009. "Under current lending standards, the average selling price is affordable for a household earning the average income in the GTA. The annual price growth we have been experiencing has been justified by this positive affordability picture," said Jason Mercer, TREB's Senior Manager of Market Analysis.