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 TorontoMLS system, representing a seven per cent increase compared to the same period in 2011. The number of new listings was down by

two per cent 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 nine per cent compared to the first 14 days of March 2011. On average, homes sold for 100 per cent 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 per cent 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 TorontoMLS Sales and Average Price
		March 1 - 14
		2012					2011
		Sales		Average Price			Sales	Average Price
City of Toronto ("416")		1,645		$553,536			1,556	$512,798
Rest of GTA ("905")		2,570		$469,267			2,371	$424,696
GTA		4,215		$502,155			3,927	$459,605
TorontoMLS Sales & Average Price  By Home Type
	March 1 - 14, 2012
	Sales					Average Price
	416		905		Total	416			905	Total
Detached	567		1,490		2,057	841,235			559,954	637,487
Yr./Yr. % Change	11%		14%		13%	10%			10%	10%
Semi-Detached	180		284		464	552,728			386,243	450,828
Yr./Yr. % Change	8%		-1%		2%	9%			8%	9%
Townhouse	164		450		614	418,268			352,764	370,261
Yr./Yr. % Change	-7%		2%		-1%	-4%			8%	4%
Condo Apartment	710		284		994	360,900			275,140	336,397
Yr./Yr. % Change	4%		5%		4%	3%			8%	4%

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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