JANUARY 2012 RESALE MARKET FIGURES

 
GTA REALTORS® RESALE MARKET FIGURES
 
TORONTO, February 3, 2012 – Greater Toronto REALTORS® reported 4,567 sales through the TorontoMLS® system in January 2012. This number was 8.8 per cent higher than the 4,199 sales reported in January 2011. Sales growth was strongest for low-rise home types in the regions surrounding the City of Toronto.
"A favourable affordability picture bolstered by very low posted fixed mortgage rates has kept home buyers confident in their ability to achieve the Canadian goal of home ownership," said Toronto Real Estate Board President Richard Silver. "The buyer pool remains diverse in the GTA with strong interest in home types across the pricing spectrum," continued Silver.
The average selling price for January 2012 transactions was $463,534 – up by almost nine per cent compared to January 2011.
"Low inventory levels have kept competition between buyers strong, resulting in robust annual rates of price growth over the last year. Strong price growth is expected to attract more listings. A better supplied market should result in a slower rate of price growth, especially in the second half of 2012," said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.
 
 
Summary of TorontoMLS® Sales and Average Price 
     
January 1 - 31      
  2012 2011      
  Sales  Average Price  Sales  Average Price       
City of Toronto ("416")  1,705      $499,045 1,677 $446,458      
Rest of GTA ("905")  2,862 $442,380 2,522 $412,000      
GTA  4,567 $463,534 4,199 $425,762      
               
               
TorontoMLS® Sales & Average Price By Home Type 
  Sales    Average Price 
  416 905 Total    416 905 Total 
Detached  559 1,577 2,136   743,993 530,129 586,098
Yr./Yr. % Change  9% 15% 13%   15% 5% 8%
Semi-Detached  157 336 493   526,599 377,456 424,952
Yr./Yr. % Change  -5% 16% 8%   6% 11% 7%
Townhouse  194 531 725   410,129 340,957 359,467
Yr./Yr. % Change  10% 19% 16%   7% 10% 9%
Condo Apartment  775 351 1,126   343,835 272,103 321,475
Yr./Yr. % Change  -2% 1% -1%   5% 7%
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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.
 
Reymund de Guzman
Sales Representative
 Century 21 Innovative Realty Inc., Brokerage
416-558-3609
 
Reymund De Guzman

Reymund De Guzman

Sales Representative
CENTURY 21 Innovative Realty Inc., Brokerage*
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