NEWS RELEASE 

  


GTA REALTORS® Report Mid-Month Resale Housing Market Figures

 

TORONTO, January 17, 2012 – Greater Toronto REALTORS® reported 1,506 sales through the TorontoMLS® system during the first two weeks of January 2012.  This result represented a six per cent increase compared to the first 14 days of January 2011. New listings were also up on a year-over-year basis, but by a lesser 3.7 per cent.

 

“The market didn’t miss a beat after the holiday season, with robust sales growth continuing and sellers’ market conditions remaining in place.  Strong competition between buyers continued to push the average selling price higher in the Greater Toronto Area relative to a year ago,” said Toronto Real Estate Board (TREB) President Richard Silver.

 

The average selling price during the first two weeks of 2012 was $444,473 – up by more than 8.5 per cent compared to the same period in 2011.

 

“Prices were up for most major home categories in the GTA in comparison to last year.  The strongest price growth was for single-detached homes in the City of Toronto.  The average price of singles in the 416 area code was up by 22 per cent year-over-year, pointing to a greater weighting of higher end detached homes changing hands compared to the same time last year,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 

Summary of TorontoMLS® Sales and Average Price (January 1 – 14)

 

 

2012

2011

 

 

Sales

Average Price

Sales

Average Price

 

City of Toronto ("416")

552

$467,152

581

$416,647

 

Rest of GTA ("905")

954

$431,351

839

$404,341

 

GTA

1,506

$444,473

1,420

$409,376

 

 

TorontoMLS® Sales & Average Price  By Home Type (January 1-14)

 

 

Sales

Average Price

 

 

416

905

Total

416

905

Total

 

Detached

161

503

664

705,509

521,345

565,999

 

Yr./Yr. % Change

-4%

13%

8%

22%

4%

8%

 

Semi-Detached

38

115

153

440,168

369,986

387,417

 

Yr./Yr. % Change

-22%

22%

7%

-1%

8%

3%

 

Townhouse

59

190

249

396,685

343,341

355,981

 

Yr./Yr. % Change

-13%

30%

16%

7%

17%

12%

 

Condo Apartment

290

128

418

354,127

261,045

325,624

 

Yr./Yr. % Change

1%

-2%

0%

6%

6%

6%

 

 

- 30 -