May Update

Greater Toronto Resale Housing Sales Up in First Half of May

TORONTO, May 19, 2009 - Greater Toronto REALTORS® reported 4,561 transactions in the

first half of May – an increase of three per cent compared to May 2008.

“Members reported a rise in buying activity this month,” said TREB President Maureen O’Neill.

“Many home buyers who were undecided about purchasing a home during the winter months

are now proceeding with confidence as a result of the GTA housing market’s affordability.”

The average price for MLS® sales was in line with last year, down by less than one-half of one

per cent at $399,811.

“More sales and fewer listings resulted in tighter market conditions which pushed the average

selling price back up to last year’s level,” according to Jason Mercer, TREB’s Senior Manager of

Market Analysis. “Look for new listings to increase as home owners react to the positive news

surrounding home sales and prices.”

May 2009 Mid Month Statistics

Year Over Year Regional Breakdown

Sales Average Price Sales Average Price

City of Toronto (“416″) 1,864 $439,459 1,734 $437,205

Rest of GTA (“905″) 2,697 $372,408 2,688 $377,344

GTA 4,561 $399,811 4,422 $400,817

Source: Toronto Real Estate Board

2009 2008

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

Information Provide by the Toronto Real Estate Board

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