NEWS RELEASE 

 


GTA REALTORS® Report Mid-Month Resale Housing Market Figures

 

TORONTO, December 16, 2011 -- Greater Toronto REALTORS® reported 2,699 transactions through the TorontoMLS® system during the first 14 days of December. This result was 11 per cent above the number of transactions recorded during the same period in 2010. On a year-to-date basis, sales amounted to 87,407 – up 4.3 per cent compared to 2010.

“We have had the second best year on record for transactions under the current Toronto Real Estate Board boundaries. Households have continued to take advantage of affordable home ownership options across the diverse array of housing types available in the Greater Toronto Area,” said TREB President Richard Silver.
The average selling price during the first two weeks of December 2011 was $460,967 – up six per cent in comparison to December 2010.

“Strong average price growth, driven by seller’s market conditions, has been largely mitigated by the continuation of very low borrowing costs this year. The share of average household income going toward mortgage principal and interest has increased only marginally and remains in line with accepted mortgage lending standards,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 

 

Summary of TorontoMLS® Sales and Average Price

December 1 - 14

2011

2010

Sales

Average Price

Sales

Average Price

City of Toronto ("416")

1,139

486,414

1,057

472,181

Rest of GTA ("905")

1,560

442,388

1,374

407,143

GTA

2,699

460,967

2,431

435,421

TorontoMLS® Sales & Average Price  By Home Type

 

 

 

 

 

 

 

December 1 - 14, 2011

Sales

Average Price

416

905

Total

416

905

Total

Detached

364

866

1,230

708,993

533,359

585,335

Yr./Yr. % Change

9%

15%

13%

3%

7%

5%

Semi-Detached

126

157

283

504,532

361,046

424,930

Yr./Yr. % Change

34%

4%

16%

2%

6%

7%

Townhouse

110

287

397

364,929

337,110

344,818

Yr./Yr. % Change

-10%

21%

10%

-10%

9%

1%

Condo Apartment

526

198

724

359,206

281,531

337,964

Yr./Yr. % Change

6%

-2%

4%

4%

13%

7%

 

 

 

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