TORONTO, June 16, 2011 – The number of sales and the average selling price reported by Greater
Toronto REALTORS® were both up during the first 14 days of June 2011. Sales through the first two
weeks of June amounted to 4,787 – up 16 per cent over the same period in 2010. The average selling
price for these transactions, at $477,853, was up nine per cent.
“The spring has always been the busiest time in the resale market, but the results for May and the first
two weeks of June represented a marked improvement over last year. Low mortgage rates have kept
affordability in check and buyers have felt confident in paying for a home over the long term,” said
Toronto Real Estate Board (TREB) President Bill Johnston.
The number of new listings on the TorontoMLS® between June 1st and June 14th was down by eight per
cent compared to 2010.
“Listings have been in short supply this year, while a lot of people have been looking to buy. The result
has been enhanced competition between buyers and more upward pressure on price,” said Jason
Mercer, TREB’s Senior Manager of Market Analysis. “Strong price growth will prompt more home owners
to list as we move toward 2012.