GTA REALTORS® Report Mid-Month Resale Housing Market Figures
Posted by: Toronto Real Estate Admin / Category: Toronto Realtor
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%
For information about Buyer Representation Agreements
(BRA) visit www.BRAFirst.ca
For Media/Public Inquiries: Mary Gallagher, Senior
Manager Media Relations.
Toronto
Real Estate Board 1400 Don Mills Road Toronto, ON M3B 3N1, Office: (416)
443-8158, Email:maryg@trebnet.com
Greater Toronto REALTORS are passionate about their work.
They adhere to a strict Code of Ethics and share a state-of-the-art Multiple
Listing Service. Serving over 31,000 Members in the Greater Toronto Area,
the Toronto Real Estate Board is Canadas largest real estate board. Greater
Toronto Area open house listings are available on www.TorontoRealEstateBoard.com
Article source: http://www.torontorealestateboard.com/market_news/release_market_updates/news2011/nr_mid_month_1111.htm
Tags: Toronto Realtor