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GTA REALTORS® Report Mid-Month Resale Housing Market Figures

TORONTO, November 16, 2011 -- Greater Toronto REALTORS® reported 3,379 transactions through the TorontoMLS® during the first two weeks of November. This result represented more than a 13 per cent increase compared to November 2010. New listings were up 16 per cent over the same period. “The results for the first two weeks of November point to two important facts: First, despite global economic uncertainty, buyers have remained confident in the affordable housing market in the GTA. Second, stronger growth in new listings means that it is becoming easier for buyers to find a home that meets their needs,” said Toronto Real Estate Board President Richard Silver. The average selling price through the first 14 days of November was $481,548 – up by 10 per cent compared to the average of $437,510 reported for the first two weeks of November 2010. “Little or no movement is expected for mortgage rates through 2012. Low rates coupled with the consensus outlook for continued economic growth next year suggests that homes will remain affordable in the GTA and households will remain confident in doing deals. Look for the average selling price to advance to the $485,000 mark next year,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.

Summary of TorontoMLS® Sales and Average Price

November 1 - 14

2011 2010

Sales

Average Price Sales

Average Price

City of Toronto ("416") 1,424 $526,540 1,288 $487,699 Rest of GTA ("905") 1,955 $448,777 1,694 $399,350

GTA 3,379 $481,548 2,982 $437,510

TorontoMLS® Sales & Average Price By Home Type

November 1 - 14, 2011

Sales Average Price

416 905 Total 416 905 Total

Detached 487 1,093 1,580 754,805 544,879 609,584 Yr./Yr. % Change 16% 16% 16% 6% 14% 11%

Semi-Detached 168 215 383 570,684 368,142 456,985 Yr./Yr. % Change 24% 17% 20% 12% 8% 11%

Townhouse 165 339 504 418,092 332,284 360,376 Yr./Yr. % Change 24% 13% 16% 3% 7% 7%

Condo Apartment 589 262 851 361,461 276,747 335,380 Yr./Yr. % Change 1% 17% 6% 4% 15% 5%

Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 32,000 TREB Members serve consumers in the Greater Toronto Area. The

Toronto Real Estate Board is Canada’s largest real estate board.

Media Inquiries: Mary Gallagher, Senior Manager Public Affairs (416) 443-8158 maryg@trebnet.com

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