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GTA REALTORS® Release Mid-Month Resale Housing Figures Toronto, September 16, 2011 – Greater Toronto REALTORS® reported 3,149 transactions during the first 14 days of September, representing an increase of more than 25 per cent in comparison to the first two weeks of September 2010. New listings over the same period, at 6,890, were up by 14 per cent compared to last year. “Purchasing and paying for a home over the long term represents the single largest financial commitment most households will make over a lifetime. To make this commitment, households must be confident in their economic prospects,” said Toronto Real Estate Board President Richard Silver. “The fact that sales continued to grow through the first half of September suggests that GTA households remain confident that the economy will remain buoyant.” The average selling price in the first half of September was $454,194 – an increase of 11 per cent compared to the same period in September 2010. “Strong price growth in the GTA continues to be mitigated by a solid affordability picture. Mortgage rates will remain at or near current levels until the second half of 2012 if not into 2013,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis. “In response to strong price growth, more households chose to list their homes for sale in comparison to last August. Growth in listings is expected to continue. Increased choice will result in more sustainable rates of price growth,” continued Mercer.

Sales Average Price Sales Average PriceCity of Toronto ("416") 1,232 $464,825 943 $430,406Rest of GTA ("905") 1,917 $447,362 1,567 $396,329GTA 3,149 $454,194 2,510 $409,132Source: Toronto Real Estate Board

Summary of TorontoMLS® Sales and Average Price

September 1 - 142011 2010

416 905 Total 416 905 Total

Detached 395 1,104 1,499 681,223 532,815 571,922Yr./Yr. % Change 34% 27% 29% 10% 12% 12%

Semi-Detached 117 210 327 481,477 372,362 411,403Yr./Yr. % Change 18% 11% 14% 6% 10% 9%

Townhouse 122 342 464 385,191 327,441 342,626Yr./Yr. % Change 26% 26% 26% -4% 10% 6%

Condo Apartment 583 220 803 336,745 290,136 323,975Yr./Yr. % Change 31% 10% 25% 9% 17% 12%

Source: Toronto Real Estate Board

TorontoMLS® Sales & Average Price By Home Type

September 1 - 14, 2011Sales Average Price

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