TorontoMLS® Sales and Average Price Up in June

Posted by admin | Jul 07, 2011 | No Comments »

July 6, 2011 — Greater Toronto REALTORS® reported 10,230 home sales through the TorontoMLS® system in June 2011 – up 21 per cent compared to June 2010. This number represented the third best June result on record behind 2007 and 2009. The number of transactions during the first six months of 2011 amounted to 48,189 – down by 4.5 per cent compared to the first half of 2010.

“The strong June result capped off an interesting first half of 2011,” said Toronto Real Estate Board President Richard Silver. “The pace of sales was a bit sluggish at the beginning of the year, but rebounded in May and June. Because of the positive affordability picture, home buyers remained confident in their ability to purchase and pay for a home over the long term.”

The average price for June transactions was $476,371 – a 9.5 per cent increase over June 2010. Through the first six months of the year, the average selling price was $467,169 – almost an eight per cent increase compared to the same period in 2010.

“While sales have been strong, we would be on track for a record number of transactions in 2011 if not for the decline in listings so far this year,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis. “Tight supply meant more competition between home buyers and an accelerating annual rate of price growth in the second quarter.”

“Home owners will likely react to the stronger price growth by listing their homes in greater numbers. A better supplied market would result in more moderate price increases,” continued Mercer.

Median Price
In June, the median price was $405,000, from the $367,750 recorded during June of 2010.

Greater Toronto REALTORS® Report May Resale Housing Market Figures

Posted by admin | Jun 04, 2011 | No Comments »

TORONTO, June 3, 2011 – Greater Toronto REALTORS® reported 10,046 sales in May 2011 – up six per cent compared to May 2010. This result was the second best on record for May under the current Toronto Real Estate Board service area.

 

The number of new listings in May, at 16,076, was down 15 per cent compared to last year. “Positive economic news and low borrowing costs led to strong sales through the first five months of the year, including the increase in May,” said Toronto Real Estate Board President Bill Johnston. “At the same time, the market has become much tighter compared to last year, due to a substantial dip in new listings.” Homes were on the market for an average of 23 days and sold for an average price of $485,520– up nine per cent compared to $446,593 in May 2010. The strongest rate of price growth was experienced for single-detached homes sold in the City of Toronto. “We have seen clear-cut seller’s market conditions emerge over the past two to three months,” explained Jason Mercer, TREB’s Senior Manager of Market Analysis. “The robust price appreciation that we have seen will hopefully prompt more households to list, resulting in a more balanced market later this year,” continued Mercer.

 

 

Greater Toronto REALTORS® reported 9,041 existing home sales through TorontoMLS®

Posted by admin | May 12, 2011 | No Comments »

TORONTO, May 4, 2011 –  the TorontoMLS® system in April 2011.

This result was down 17 per cent compared April 2010 when sales spiked to a new record of 10,898.  While off last year’s record result, April 2011 sales were in line with the average April sales level reported over the previous five years.

“Existing home sales have been strong from a historic perspective through the first four months of 2011. Expect the pace of sales to remain robust through the spring, as the economy expands and home buyers continue to benefit from affordable home ownership opportunities,” said Toronto Real Estate Board

(TREB) President Bill Johnston.

Market conditions tightened markedly over the last year. April 2011 sales accounted for 62 per cent of new listings during the month – up substantially from 53 per cent in April 2010. Tighter conditions resulted in the average April selling price growing by nine per cent annually to $477,407.

“The number of listings has been below expectations so far this year. Increased competition between home buyers has led to an accelerating annual rate of price growth,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The strong price growth experienced in April should result in more listings and more balanced market conditions.”

GTA REALTORS® Report Monthly Resale Housing Market Figures

Posted by admin | Apr 09, 2011 | No Comments »

TORONTO, April 5, 2011

TorontoMLS® system in March 2011, representing the second best March result on record. The number

of transactions was 11 per cent lower than the record result reported in March 2010.

“The strong home sales reported in March and throughout the first quarter of 2011 have been based on a

solid affordability picture and improving economic conditions in the GTA and country-wide,” said Toronto

Real Estate Board (TREB) President Bill Johnston.

The average selling price for March 2011 was up five per cent year-over-year to $456,147. The strongest

average annual price growth was reported for condominium apartments and semi-detached houses, at

approximately seven per cent for both home types.

“Market conditions were tighter in March compared to last year. With more competition between buyers,

we have seen a strong but sustainable rate of price growth,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Average Selling Price Up in February

Posted by admin | Mar 15, 2011 | Comments Off

March 3, 2011 — Greater Toronto REALTORS® reported 6,266 transactions through the TorontoMLS® system in February 2011. This result was 14 per cent lower than the record sales reported in February 2010.

While not representing a record, February 2011 sales were 50 per cent higher than the number reported in February 2009 during the recession and slightly higher than the average February sales over the previous ten years.

“Continued improvement in the GTA economy, including growth in jobs and incomes and a declining unemployment rate, has kept the demand for ownership housing strong,” said Toronto Real Estate Board (TREB) President Bill Johnston.

The average selling price for February 2011 transactions was $454,423, which was more than five per cent higher than the average selling price reported in February 2010.

“Market conditions remain quite tight in the GTA. There is enough competition between home buyers to promote continued price growth,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Median Price
Median Price In February, the median price was $379,000, from the $366,300 recorded during February of 2010.

For more information about the market trends please do not hesitate to contact me.

Luis Briceno – Real Estate Salesperson
Right At Home Realty Inc
Direct number 1-416-804-8602
lbriceno@trebnet.com