February 16, 2010
GTA Real Estate Market Shows Huge Increases
Did you know the January GTA real estate market started 2010 at full gallop, with sales up 87% from the year before, according to figures released February 3 by the Toronto Real Estate Board?
“The Greater Toronto Area home market has rebounded well from the lows experienced at the beginning of 2009,” said Tom Lebour, TREB president.
Placed in perspective, this January’s sales were slightly higher than the January average in the years preceding 2009 when the economy faced recession.
The average price of a GTA home this January hit $409,058, up 19 per cent compared with $343,632 in the same month last year.
TREB warned comparisons to last year will continue to be extreme in the first quarter of this year as “we continue to make comparisons to weak market conditions at the beginning of 2009.”
