Mid March Madness
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
416 – $841,235
905 – $559,954
All – $637,487
416 – $552,728
905 – $386,243
All – $450,828
416 – $418,268
905 – $352,764
All – $370,261
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.
Contact Laurin Jeffrey for more information – 416−388−1960
Laurin Jeffrey is a Toronto Realtor with TheRedPin.com. He did not
write these articles, he just reproduces them here for people who are
interested in Toronto real estate. He does not work for any builders.
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