Toronto Real Estate Agents Report Mid-Month Resale Hous­ing Mar­ket Figures

Greater Toronto Real­tors reported 4,557 trans­ac­tions through the Toronto MLS sys­tem dur­ing the first two weeks of April 2012. This result rep­re­sented an increase of almost 7% in com­par­i­son to the same period in April 2011. The num­ber of new list­ings grew over the same period, but by a lesser annual rate than sales, which means mar­ket con­di­tions tight­ened com­pared to last year.

“Com­pe­ti­tion between buy­ers remained strong in many parts of the Greater Toronto Area dur­ing the first half of April, with many list­ings attract­ing a lot of atten­tion. Strong com­pe­ti­tion meant that, on aver­age, sell­ers priced within mar­ket value range received offers that matched their ask­ing prices within three weeks,” said Toronto Real Estate Board Pres­i­dent Richard Silver.

The aver­age sell­ing price dur­ing the first two weeks of April was $506,954 – up by 5% com­pared to the first half of April 2011. The annual rate of price growth was stronger in the GTA regions sur­round­ing the City of Toronto.

“Growth in list­ings has not kept up with growth in sales. In the City of Toronto, new list­ings for low-rise home types dur­ing the first half of April were actu­ally down com­pared to last year. This helps explain why some of the tight­est mar­ket con­di­tions in the GTA can be found within the ’416′ area code,” said Jason Mer­cer, TREB’s Senior Man­ager of Mar­ket Analysis.

Sum­mary of Toron­toMLS Sales and Aver­age Price

City of Toronto (“416″)
2012 Sales: 1,731 | Aver­age Price: $553,104
2011 Sales: 1,706 | Aver­age Price: $541,773

Rest of GTA (“905″)
2012 Sales: 2,826 | Aver­age Price: $478,685
2011 Sales: 2,562 | Aver­age Price: $445,019

All of the GTA
2012 Sales: 4,557 | Aver­age Price: $506,954
2011 Sales: 4,268 | Aver­age Price: $483,693

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Con­tact the Jef­frey Team for more infor­ma­tion – 416−388−1960

Lau­rin & Natalie Jef­frey are Toronto Real­tors with Cen­tury 21 Regal Realty.
They did not write these arti­cles, they just repro­duce them here for peo­ple
who are inter­ested in Toronto real estate. They do not work for any builders.
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