GTA Resale Housing Sales Up 19 Per Cent in the First Half of June

TORONTO, June 17, 2009 - Greater Toronto REALTORS® reported 5,185 transactions in the first half of June – an increase of 19 per cent compared to the same period last year.

"Households in the GTA have become more confident in purchasing a home over the past three months," said TREB President Maureen O’Neill. "Affordability, due in part to very low borrowing costs, has played a key role."

The average price for MLS® sales was $407,716, up by two per cent compared to last year. "Heightened interest in ownership housing this spring has solidified resale home prices," according to Jason Mercer, TREB's Senior Manager of Market Analysis. “The number of home buyers has been high relative to the number of listings, pushing the average price above last year's level.”

Summary Of Mid-June Sales And Average Price

June                             2009                             2008

                                    Sales     Average         Price Sales           Average Price

City of Toronto ("416")    2,023    $449,946           1,733                $439,469

Rest of GTA ("905")        3,162    $380,698           2,641                $371,686

GTA                              5,185    $407,716           4,374                $398,542

Source: Toronto Real Estate Board