GTA REALTORS® Report Mid-Month Resale Housing Market Figures

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%

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 32,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada’s largest real estate board.

Media Inquiries:
Mary Gallagher,
Senior Manager Public Affairs
(416) 443-8158
maryg@trebnet.com
     
     

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