TORONTO, May 18, 2011 -- Greater Toronto REALTORS® reported 4,774 sales through the TorontoMLS® during the first two weeks of May 2011. This result was two per cent lower than the May 2010 figure of 4,887.
“The strong sales reported for the first half of May reflect the positive economic outlook for the GTA. With the number of jobs increasing and earnings growing, it makes sense that households remain confident in their ability to purchase and pay for a home over the long term,” said Toronto Real Estate Board President Bill Johnston.
The average selling price for the first 14 days of May was $486,223 – an increase of more than eight per cent compared to the same period in 2010.
“The average home selling price has been growing at a faster rate over the last two months. This is not surprising given that the number of homes available for sale has been down substantially in comparison to 2010. Increased competition between buyers for available listings has prompted enhanced upward pressure on home prices,” explained Jason Mercer, TREB’s Senior Manager of Market Analysis
Thursday, May 19, 2011
Thursday, May 5, 2011
GTA REALTORS REPORT MONTHLY RESALE HOUSING FIGURES - April 2011
TORONTO, May 4, 2011 -- Greater Toronto REALTORS® reported 9,041 existing home sales through the Toronto MLS® 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.”
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.”
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