NEWS RELEASE 

 


GTA REALTORS® Report Mid-Month Resale Housing Market Figures

 

TORONTO, November 16, 2011 -- Greater Toronto REALTORS® reported 3,379 transactions through the TorontoMLS® during the first two weeks of November.  This result represented more than a 13 per cent increase compared to November 2010.  New listings were up 16 per cent over the same period.

 

“The results for the first two weeks of November point to two important facts:  First, despite global economic uncertainty, buyers have remained confident in the affordable housing market in the GTA.  Second, stronger growth in new listings means that it is becoming easier for buyers to find a home that meets their needs,” said Toronto Real Estate Board President Richard Silver.

 

The average selling price through the first 14 days of November was $481,548 – up by 10 per cent compared to the average of $437,510 reported for the first two weeks of November 2010.

 

“Little or no movement is expected for mortgage rates through 2012.  Low rates coupled with the consensus outlook for continued economic growth next year suggests that homes will remain affordable in the GTA and households will remain confident in doing deals.  Look for the average selling price to advance to the $485,000 mark next year,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis

 

 

Summary of TorontoMLS® Sales and Average Price

 

November 1 - 14

 

2011

2010

 

Sales

Average Price

Sales

Average Price

 

City of Toronto ("416")

1,424

$526,540

1,288

$487,699

 

Rest of GTA ("905")

1,955

$448,777

1,694

$399,350

 

GTA

3,379

$481,548

2,982

$437,510

 

TorontoMLS® Sales & Average Price  By Home Type

November 1 - 14, 2011

Sales

Average Price

416

905

Total

416

905

Total

Detached

487

1,093

1,580

754,805

544,879

609,584

Yr./Yr. % Change

16%

16%

16%

6%

14%

11%

Semi-Detached

168

215

383

570,684

368,142

456,985

Yr./Yr. % Change

24%

17%

20%

12%

8%

11%

Townhouse

165

339

504

418,092

332,284

360,376

Yr./Yr. % Change

24%

13%

16%

3%

7%

7%

Condo Apartment

589

262

851

361,461

276,747

335,380

Yr./Yr. % Change

1%

17%

6%

4%

15%

5%

 

 

 

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