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TREB MLS Mid-Month December 2010

TORONTO, December 16, 2010 – Greater Toronto REALTORS reported 2,509 sales through the MLS during the first two weeks of December 2010.

This represented a 19 percent 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 percent 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 TREB President Bill Johnston.

The average price for December mid-month transactions was $435,225 – up three percent 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 percent 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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