The real estate year of 2009 began amidst the economic downturn. Hardly any homes were selling and those that were had to be priced at a steep discount. Mostly there were no buyers in the market. By May 2009 consumer confidence returned to the Toronto housing market and a strong housing recovery got underway. The rally continued until it faded away into the year-end holiday time when real estate typically is slower.
Whole year average price for Toronto rose 4.2% from $379,347 to $395,460
Comparing December 2008 to December 2009 the market is up by 14% to $411,931
But the December 2009 average is down by 1.6% from November 2009.
Got all that? The reporting of market statistics is a bit crazy in real estate! I have summarized the whole thing into a couple of charts to help explain it visually:
And here is the yearly chart back to 1972: (click chart to enlarge)
Contact me for all your real estate needs…
Ralph Evans, Sales Representative
RE/MAX Professionals Inc., Brokerage
Phone 416 236-1241
Humbertown Plaza – 270 The Kingsway, Suite 200, Toronto ON