Detached Home Continues Double-Digit Price Growth

Greater Toronto REALTORS® reported 9,690 sales through the TorontoMLS system in March 2012. This result was up by almost eight per cent in comparison to the 8,986 deals reported during the same period in 2011. full report

The average selling price in the GTA was $501,614 in March – up by 10 per cent in comparison to March 2011.

Detached homes continued to have the strongest growth in sales and average selling price. In Toronto, sales of detached homes went up 12% with average selling price up 13%. In 905 areas, sales and average selling price for detached homes went up 16% and 10%, respectively.

In comparison, the condominium market appeared to be softer. Sales of condominium apartments in Toronto were actually down 2%, while average selling price was up only 2% compared to March 2011.

GTA Monthly Resale Home Sale Growth

GTA Average Home Price Growth

On a quarterly basis, sales of detached homes in the first quarter of 2012 were 7.2% higher than that of first quarter in 2011, while sales of condo apartments were 4.4% lower. The average selling price went up 10% for detached homes and 4% for condo apartments in the first quarter 2012, compared to the first quarter in 2011.

Antonia Yan

Antonia Yan

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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