GTA REALTORS(R) Report Mid-Month Resale Housing Market Figures

TORONTO, ONTARIO -- (Marketwire) -- 11/18/09 -- In the first two weeks of November, Greater Toronto REALTORS® reported 3,666 sales - up 84 per cent compared to the first two weeks of November 2008. The average price for these transactions was up 10 per cent year-over-year to $415,066.

Increased interest in ownership housing has been widespread throughout the GTA and across all housing types," said Toronto Real Estate Board President Tom Lebour. "However, it is important to point out that we are now making comparisons to the fall of 2008 when we experienced a marked decline in sales and average price"

Year-to-date sales, at 78,233 are up 11 per cent compared to 2008. Average price, at $393,180, is up by three per cent.

"Sales and average price in the GTA this winter will be well above levels reported throughout the fourth quarter of 2008 and the first quarter of 2009," according to Jason Mercer, TREB's Senior Manager of Market Analysis.

Summary Of November Sales And Average Price ---------------------------------------------------------------------------- ----------------------------------------------------------------------------

November 2009 2008 ------------------------------------------------- Average Average Sales Price Sales Price City of Toronto ("416") 1,560 $441,893 830 $400,305 Rest of GTA ("905") 2,106 $395,195 1,161 $358,130 GTA 3,666 $415,066 1,991 $375,712 ---------------------------------------------------------------------------- Source: Toronto Real Board

Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 28,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada's largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.

Contacts:
For Media/Public Inquiries:
Toronto Real Estate Board
Mary Gallagher, Manager Media Relations
(416) 443-8158
Email:maryg@trebnet.com