NEWS RELEASE 

  


GTA REALTORS® Report Mid-Month Resale Housing Market Figures

 

TORONTO, February 16, 2012 – Greater Toronto REALTORS® reported 3,206 sales through the TorontoMLS system through the first 14 days of February 2012 – up by more than nine per cent compared to the 2,933 sales reported during the same period in 2011.  New listings were up by 13 per cent over the same period.

 

“The GTA resale home market became better supplied during the first 14 days of February.  If growth in new listings continues to outstrip growth in sales this year, competition between home buyers will ease.  More balanced market conditions on a sustained basis would result in a lower annual rates of price growth later in 2012,” said Toronto Real Estate Board (TREB) President Richard Silver.

 

The average selling price during the first 14 days of February was $491,493 – up by nine per cent compared to the first 14 days of February 2011.  On average, sellers received 99 per cent of their asking price and their homes were on the market for an average of 25 days.

 

“Both buyers and sellers are aware of the substantial competition that exists for most listings in the GTA.  There is not a mismatch in expectations, so homes sell quickly at close to the asking price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 

Summary of TorontoMLS® Sales and Average Price

 

February 1 - 14

 

2012

2011

 

Sales

Average Price

Sales

Average Price

 

City of Toronto ("416")

1,214

$543,068

1,244

$499,489

 

Rest of GTA ("905")

1,992

$460,061

1,689

$414,958

 

GTA

3,206

$491,493

2,933

$450,811

 

 

TorontoMLS® Sales & Average Price  By Home Type

February 1 - 14, 2012

Sales

Average Price

416

905

Total

416

905

Total

Detached

417

1,154

1,571

776,011

553,233

612,366

Yr./Yr. % Change

8%

22%

18%

3%

11%

7%

Semi-Detached

131

209

340

595,453

382,458

464,524

Yr./Yr. % Change

-2%

12%

6%

18%

9%

12%

Townhouse

103

343

446

390,750

341,459

352,842

Yr./Yr. % Change

-12%

11%

5%

0%

10%

6%

Condo Apartment

552

247

799

388,215

269,637

351,558

Yr./Yr. % Change

-7%

15%

-1%

8%

4%

5%

 

 

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