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Oakville & Mississauga Real Estate News: Mid-March Home & Condo Sales Numbers for GTA

March 17, 2010

GTA REALTORS® REPORTING MARCH MID-MONTH HOUSING STATISTICS

TORONTO, MARCH 17, 2010 – Greater Toronto Area REALTORS® reported 4,353 real estate sales through the MLS ® during the first two weeks of March.  This represented a 70% increase compared to the 2,562 sales of homes and condos recorded during the same period in 2009 when resale real estate transactions had dipped markedly due to the recession.

The mid-month sales total was also 16% higher than the previous March mid-month high reached in 2006.  “The spring-like weather in the first half of March brought the first green sprouts of the recurring spring market. Every year, monthly sales climb steadily through May,” said Toronto Real Estate Board President Tom Lebour. “People are buying homes because they are confident in the current economic recovery and mortgage payments on the average priced home remain affordable.”

The average price for March mid-month transactions was $440,153 – a 20 per cent increase over 2009. New listings within the Toronto Real Estate Board boundaries were up 34% to 8,540.  “Look for double-digit annual price increases to cease later in 2010, as new listings rebound from the low levels experienced in 2009,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “Increased listings will give buyers more choice, resulting in less upward pressure on home prices.”

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2 Comments leave one →
  1. March 26, 2010 12:19 pm

    Thanks for the update!!! Wow, awesome real estate blog.

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