NEWS RELEASE 

 


GTA REALTORS® Report Mid-Month Resale Housing Figures

 

TORONTO, September 16, 2011 -- Greater Toronto REALTORS® reported 3,149 transactions during the first 14 days of September, representing an increase of more than 25 per cent in comparison to the first two weeks of September 2010. New listings over the same period, at 6,890, were up by 14 per cent compared to last year.

"Purchasing and paying for a home over the long term represents the single largest financial commitment most households will make over a lifetime. To make this commitment, households must be confident in their economic prospects," said Toronto Real Estate Board President Richard Silver. "The fact that sales continued to grow through the first half of September suggests that GTA households remain confident that the economy will remain buoyant."

The average selling price in the first half of September was $454,194 – an increase of 11 per cent compared to the same period in September 2010.

"Strong price growth in the GTA continues to be mitigated by a solid affordability picture. Mortgage rates will remain at or near current levels until the second half of 2012 if not into 2013," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis.

"In response to strong price growth, more households chose to list their homes for sale in comparison to last August. Growth in listings is expected to continue. Increased choice will result in more sustainable rates of price growth," continued Mercer.

 

 

Summary of TorontoMLS® Sales And Average Price

 

 

 

 

 

 

September 1-14

 

2011

2010

 

Sales

Average Price

Sales

Average Price

City of Toronto ("416")

1,232

$464,825

943

$430,406

Rest of GTA ("905")

1,917

$447,362

1,567

$396,329

GTA

3,149

$454,194

2,510

$409,132

Source: Toronto Real Estate Board

 

 

 

 

TorontoMLS® Sales & Average Price  By Home Type

 

 

 

 

 

 

 

September 1-14, 2011

 

Sales

 

Average Price

 

 

416

905

Total

416

905

Total

 

 

 

 

 

 

 

Detached

395

1,104

1,499

681,223

532,815

571,922

Yr./Yr. % Change

34%

27%

29%

10%

12%

12%

Semi-Detached

117

210

327

481,477

372,362

411,403

Yr./Yr. % Change

18%

11%

14%

6%

10%

9%

Townhouse

122

342

464

385,191

327,441

342,626

Yr./Yr. % Change

26%

26%

26%

-4%

10%

6%

Condo Apartment

583

220

803

336,745

290,136

323,975

Yr./Yr. % Change

31%

10%

25%

9%

17%

12%

Source: Toronto Real Estate Board

 

 

 

 

 

 

 

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