Feb 12, 2010
According to Tom Lebour, president of the Toronto Real Estate Board, January was another hot month in Toronto real estate. The following is a quick synopsis of the TREB figures For January.
January Real Estate figures according to TREB:
– 4,986 homes changed hands throughout Great Toronto Area. Figure far exceeds last January’s 2,670 sales, which took place in the depths of the global financial meltdown. The figure is comparable to 5,075 transactions in January 2008 and the 5,172 sales that took place in January 2007, the latter of which was the strongest year on record.
– Condominiums apartments comprised a whopping 47 per cent of all sales in the 416 and nearly 13 per cent of all 905 transactions last month.
– Average Price of a home in the GTA is $409,058, a 19 per cent increase over the January 2009 average price of $343,632. The increase was even greater in the 905, where last January’s average price of $328,935 rose more than 20 per cent to $396,556 last month. In the 416, the average price rose 17 per cent from $364,416 a year ago to $428,151 in January.