For Sale by Ian Muttoo
TREB continues to issue interesting real estate market reports... Toronto has experienced a large sales growth in January 2010 compared to the same month in previous year.
Toronto realtors reported 4,986 sales, 87% more than previous year. However, it's quite below December's 5,541 sales and 7,446 sales in November 2009. After a drop in December, number of active listings to 10,021 new listings (which is a big increase compared to 5,506 new listings in December; however it's similar to 9,923 new listings in November).
Days on market indicator gained one day again, but TREB average has your home selling within 28 days on average.
“Expect strong annual growth rates for existing home sales and average price through the first quarter as we continue to make comparisons to the weak market conditions at the beginning of 2009,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
According to TREB, the market is keeping a healthy pace, however, the first wave of interest from the last autumn is gone and GTA market is more balanced.