NEWS RELEASE 

 


GTA REALTORS® Release Monthly Market Figures

 

TORONTO, February 3, 2012 -- Greater Toronto REALTORS® reported 4,567 sales through the TorontoMLS® system in January 2012.  This number was 8.8 per cent higher than the 4,199 sales reported in January 2011.  Sales growth was strongest for low-rise home types in the regions surrounding the City of Toronto.

 

“A favourable affordability picture bolstered by very low posted fixed mortgage rates has kept home buyers confident in their ability to achieve the Canadian goal of home ownership,” said Toronto Real Estate Board President Richard Silver. “The buyer pool remains diverse in the GTA with strong interest in home types across the pricing spectrum,” continued Silver.

 

The average selling price for January 2012 transactions was $463,534 – up by almost nine per cent compared to January 2011.

 

“Low inventory levels have kept competition between buyers strong, resulting in robust annual rates of price growth over the last year.  Strong price growth is expected to attract more listings.  A better supplied market should result in a slower rate of price growth, especially in the second half of 2012,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.

 

 

Summary of TorontoMLS® Sales and Average Price

 

January 1 - 31

 

2012

2011

 

Sales

Average Price

Sales

Average Price

 

City of Toronto ("416")

1,705

$499,045

1,677

$446,458

 

Rest of GTA ("905")

2,862

$442,380

2,522

$412,000

 

GTA

4,567

$463,534

4,199

$425,762

 

TorontoMLS® Sales & Average Price  By Home Type

January 1 - 31, 2012

Sales

Average Price

416

905

Total

416

905

Total

Detached

559

1,577

2,136

743,993

530,129

586,098

Yr./Yr. % Change

9%

15%

13%

15%

5%

8%

Semi-Detached

157

336

493

526,599

377,456

424,952

Yr./Yr. % Change

-5%

16%

8%

6%

11%

7%

Townhouse

194

531

725

410,129

340,957

359,467

Yr./Yr. % Change

10%

19%

16%

7%

10%

9%

Condo Apartment

775

351

1,126

343,835

272,103

321,475

Yr./Yr. % Change

-2%

1%

-1%

5%

7%

5%

*The TREB boundaries include the City of Toronto, the Regions of Halton, Peel, York and Durham, Orangeville in Dufferin County and Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth in Simcoe County.

 

 

 

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