NEWS RELEASE 

 


GTA REALTORS® Release Resale Market Figures

 

TORONTO, November 3, 2011 -- Greater Toronto REALTORS® reported 7,642 home sales through the TorontoMLS® in October 2011.  This represented an increase of 17.5 per cent compared to the 6,504 transactions reported in October 2010.

 

Monthly sales data follow a recurring seasonal trend that should be removed before comparing monthly results within the same year.  After adjusting for seasonality, the annualized rate of sales for October was 97,100, which was above the average of 90,700 for the first three quarters of 2011.

 

“The pace of October resale home transactions remained brisk in the GTA.  This bodes well for a strong finish to 2011,” said Toronto Real Estate Board President Richard Silver.  “Home buyers who found it difficult to make a deal in the spring and summer due to a shortage of listings have benefitted from increased supply in the fall.”

 

The average selling price through the TorontoMLS® in October was $478,137 – up eight per cent compared to October 2010.

 

“Sellers’ market conditions remain in place in many parts of the GTA.  The result has been above-average annual rates of price growth for most home types,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.  “Thanks to low interest rates, strong price growth has not substantially changed the positive affordability picture in the City of Toronto and surrounding regions.”  

 

Summary of TorontoMLS® Sales and Average Price

 

October 1 - 31

 

2011

2010

 

Sales

Average Price

Sales

Average Price

 

City of Toronto ("416")

3,124

$522,606

2,690

$490,660

 

Rest of GTA ("905")

4,518

$447,388

3,814

$409,043

 

GTA

7,642

$478,137

6,504

$442,799

 

TorontoMLS® Sales & Average Price  By Home Type

Sales

Average Price

416

905

Total

416

905

Total

Detached

1,038

2,540

3,578

751,612

534,258

597,314

Yr./Yr. % Change

9%

17%

15%

6%

9%

7%

Semi-Detached

366

515

881

539,917

372,022

441,772

Yr./Yr. % Change

24%

28%

26%

9%

11%

10%

Townhouse

330

801

1,131

440,207

342,146

370,758

Yr./Yr. % Change

20%

14%

16%

11%

11%

12%

Condo Apartment

1,358

544

1,902

367,715

276,308

341,571

Yr./Yr. % Change

18%

19%

19%

9%

9%

9%

 

 

 

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