TORONTO, December 16, 2010 — Greater Toronto REALTORS® reported 2,509 sales through the Multiple Listing Service® (MLS®) during the first two weeks of December 2010.
This represented a 19 per cent decrease compared to the 3,079 sales recorded during the same period in December 2009. Year-to-date sales amounted to 84,316 – down one per cent from the 2009 total of 84,888.
“While off the 2009 record, the level of December transactions remains strong from a historic perspective. The number of transactions in 2010 will be the third highest on record,” said Toronto Real Estate Board President Bill Johnston.
The average price for December mid-month transactions was $435,225 – up three per cent compared to the average of $423,103 recorded during the first 14 days of December 2009.
“Market conditions remain tight enough to support moderate growth in the average selling price. Expect the three per cent annual rate of growth reported for the first two weeks of December to be the norm in 2011,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.