April real estate sales bring May…
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
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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