Durham’s Spring Market Heating Up Early

DURHAM REGION, February 4, 2010 – Sales of single family homes in Durham Region increased by 5% to 532 from 507 in December but also records a big jump from 350 in January of 2009 when sales were much lower due to the recession reported Dierdre Mullen, President of the Durham Region Association of REALTORS®.

Average prices of homes inched up slightly to $289,195 from December’s $286,724 but more importantly reflects a 12% hike from $257,095 in January of last year.

Active listings increased by 16.5% to 1423 from December’s 1221 but dropped by 39% from 2324 in January of 2009. The real estate market has not been in a seller’s market territory since 2004 when housing inventory was recorded at 1411 listings on the MLS® System.

GTA Realtors® report mid-February

Resale Housing Market

TORONTO, February 18, 2010 - Greater Toronto REALTORS reported 3,555 sales through the Multiple Listing Service during the first two weeks of February. This represented a 74 per cent increase compared to the 2,044 sales recorded during the same period in 2009 when resale transactions had dipped due to the recession. The February mid-month sales total was also 7.7 per cent above the previous high set in 2006.

"Home ownership demand remains strong in the GTA, as households remain confident that economic recovery is at hand and that ownership housing will continue to be a quality long-term investment," said Toronto Real Estate Board President Tom Lebour.

The average price for February mid-month transactions was $429,997 - an 18 per cent increase over 2009. New Home Listings within the Toronto Real Estate Board boundaries were up 15 per cent to 6,212.

Home Sales: source: TREB February Sales and Average Price  Increase Annually