GTA Real­tors Report Mid-Month Resale Hous­ing Mar­ket Figures

Dur­ing the first 14 days of March, Greater Toronto Real­tors reported 4,215 trans­ac­tions through the Toronto MLS sys­tem, rep­re­sent­ing a 7% increase com­pared to the same period in 2011. The num­ber of new list­ings was down by 2% year-over-year to 6,970.

“Home buy­ers con­tinue to ben­e­fit from the afford­able hous­ing sit­u­a­tion in the GTA. Immi­gra­tion to Toronto and sur­round­ing areas adds to the pool of home buy­ers every year. The eco­nomic and eth­nic diver­sity found in the GTA con­sis­tently attracts new­com­ers and for­eign invest­ment,” said Toronto Real Estate Board (TREB) Pres­i­dent Richard Silver.

The aver­age sell­ing price for trans­ac­tions between March 1 and 14 was $502,155 – up by more than 9% com­pared to the first 14 days of March 2011. On aver­age, homes sold for 100% of the ask­ing price within three weeks.

“Strong com­pe­ti­tion between home buy­ers in many parts of the GTA has resulted in sell­ers real­iz­ing their ask­ing price in a short period of time. The fact that homes are sell­ing for 100% of the ask­ing price, on aver­age, sug­gests that sell­ers are very much in tune with the cur­rent mar­ket sit­u­a­tion and know the fair mar­ket value of their home,” said Jason Mer­cer, TREB’s Senior Man­ager of Mar­ket Analysis.

Sum­mary of Toronto MLS Sales and Aver­age Price

City of Toronto (416)
2012 Sales: 1,645 | Aver­age Price: $553,536
2011 Sales: 1,556 | Aver­age Price: $512,798

Rest of GTA (905)
2012 Sales: 2,570 | Aver­age Price: $469,267
2011 Sales: 2,371 | Aver­age Price: $424,696

All of the GTA
2012 Sales: 4,215 | Aver­age Price: $502,155
2011 Sales: 3,927 | Aver­age Price: $459,605

Toronto MLS Sales & Aver­age Price By Home Type

Detached
416 – $841,235
905 – $559,954
All – $637,487

Semi-Detached
416 – $552,728
905 – $386,243
All – $450,828

Town­house
416 – $418,268
905 – $352,764
All – $370,261

Condo Apart­ment
416 – $360,900
905 – $275,140
All – $336,397

Greater Toronto Real­tors are pas­sion­ate about their work. They are gov­erned by a strict Code of Ethics and share a state-of-the-art Mul­ti­ple List­ing Ser­vice. Over 34,000 TREB Mem­bers serve con­sumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada’s largest real estate board.

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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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real estate toronto out­look 2013

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