TORONTO, February 4, 2011 -- Greater Toronto REALTORS® reported 4,337 transactions through the
Toronto MLS® system in January 2011. This result was 13 per cent lower than the record result reported
in January 2010.

“While off the record pace experienced a year ago, the GTA resale market has started the year on a solid
footing. Home buyers in Toronto and surrounding areas continue to benefit from a diversity of housing
types for sale at many different price points,” said TREB President Bill Johnston.

The average selling price for January 2011 sales was $427,037, representing an increase of over four per
cent compared to the average of $409,058 reported in January 2010.

“The average selling price is expected to grow at a moderate pace in 2011. Growth rates in the three to
five per cent range will be sustainable from an affordability perspective,” said Jason Mercer, TREB’s
Senior Manager of Market Analysis.

Courtesy of: Toronto Real Estate Board