Toronto Real Estate Board

Toronto Real Estate Board

January 19, 2011 10:57 ET

GTA REALTORS® Report Mid-Month Resale Housing Market Figures

TORONTO, ONTARIO--(Marketwire - Jan. 19, 2011) - Greater Toronto REALTORS® reported 1,563 sales during the first two weeks of January 2011 – an 11 per cent decrease compared to the first two weeks of January 2010.

"While off the record pace experienced last January, sales remain high from a historic perspective and market conditions remain tight enough to support a sustainable rate of price growth," said Toronto Real Estate Board (TREB) President Bill Johnston.

The average price for transactions during the first 14 days of January was $413,565, representing a five per cent increase compared to the first two weeks of January 2010.

"Average price growth continues to be supported by a positive affordability picture. A household earning the average income can afford mortgage payments associated with the purchase of an average priced home," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Sales & Average Price By Home Type
 
  January-2011  
  Sales Average Price
  416 905 Total 416 905 Total
 
Detached 196 513 709 563,928 504,925 521,236
Yr./Yr. % Change -8% -10% -10% -1% 6% 4%
Semi-Detached 56 106 162 443,472 336,446 373,443
Yr./Yr. % Change -13% -9% -10% 2% 6% 4%
Townhouse 73 154 227 374,020 297,816 322,322
Yr./Yr. % Change -18% -20% -20% 2% 0% 1%
Condo Apartment 292 137 429 333,558 245,020 305,283
Yr./Yr. % Change -12% -4% -9% 11% 3% 8%
 
Source: Toronto Real Estate Board
 
 
Summary Of January Sales And Average Price    
         
  January   
   2011  2010
  Sales Average Price Sales Average Price
City of Toronto ("416") 628 $418,951 708 $401,120
Rest of GTA ("905") 935 $409,947 1,041 $391,353
GTA 1,563 $413,565 1,749 $395,307
         
Source: Toronto Real Estate Board    

Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 31,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada's largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.

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