TORONTO, ONTARIO -- 12/16/10 -- Greater Toronto REALTORS® reported 2,509 sales through the Multiple Listing Service® (MLS®) during the first two weeks of December 2010.

This represented a 19 per cent decrease compared to the 3,079 sales recorded during the same period in December 2009. Year-to-date sales amounted to 84,316 - down one per cent from the 2009 total of 84,888.

"While off the 2009 record, the level of December transactions remains strong from a historic perspective. The number of transactions in 2010 will be the third highest on record," said Toronto Real Estate Board President Bill Johnston.

The average price for December mid-month transactions was $435,225 - up three per cent compared to the average of $423,103 recorded during the first 14 days of December 2009.

"Market conditions remain tight enough to support moderate growth in the average selling price. Expect the three per cent annual rate of growth reported for the first two weeks of December to be the norm in 2011," said Jason Mercer, TREB's Senior Manager of Market Analysis.

 
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     Summary Of December Sales And Average Price
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    December
 2010    2009
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 Sales     Average     Sales     Average
 Price     Price
City of Toronto ("416")  1,083    $470,918     1,343    $460,828
Rest of GTA ("905")1,426    $408,118     1,736    $393,918
GTA    2,509    $435,225     3,079    $423,103
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Source: Toronto Real Estate Board
 
   Sales & Average Price By Home Type
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   December-2010
Sales   Average Price
     416    905  Total 416 905     Total
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Detached   348    776  1,124   678,587   495,555   552,426
  Yr./Yr. % Change    -24%   -17%   -19%  3%  3%  3%
Semi-Detached     95    161    256   495,815   339,641   397,596
  Yr./Yr. % Change    -35%   -13%   -23% 10%  2%  3%
Townhouse  125    253    378   404,086   309,135   340,534
  Yr./Yr. % Change    -10%   -24%   -20%  5%  4%  5%
Condo Apartment  502    202    704   344,733   248,391   317,089
  Yr./Yr. % Change    -15%   -11%   -14%  4%  2%  3%
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Source: Toronto Real Estate Board