Toronto Real Estate Board

Toronto Real Estate Board

February 17, 2011 10:23 ET

GTA REALTORS® Report Mid-Month Resale Housing Market Figures

TORONTO, ONTARIO--(Marketwire - Feb. 17, 2011) - Greater Toronto REALTORS® reported 3,084 sales during the first two weeks of February 2011 – a 13 per cent decrease compared to the first two weeks of February 2010.

"We are on pace for a strong sales result in February, but transactions will come in lower than the record result reported last February. Sales remain strong because the GTA resale market contains a diversity of housing types catering to a wide array of home ownership needs," said Toronto Real Estate Board (TREB) President Bill Johnston.

The average price for transactions during the first 14 days of February was $451,257, representing a five per cent increase compared to the first two weeks of February 2010.

"Average selling price growth for existing homes is expected to range between three and five per cent this year. Tighter market conditions over the last four months have pushed price growth to the top end of this range," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Summary Of February Sales And Average Price
       
  February 1st to February 14th
  2011 2010
  Sales Average Price Sales Average Price
City of Toronto ("416") 1,291 $ 499,861 1,430 $ 471,958
Rest of GTA ("905") 1,793 $ 416,260 2,125 $ 401,760
GTA 3,084 $ 451,257 3,555 $ 429,997
   
Sales & Average Price By Home Type  
February 1st to February 14th, 2011  
   
  Sales       Average Price      
  416   905   Total   416   905   Total  
   
Detached 400   1,003   1,403   751,366   501,372   572,646  
  Yr./Yr. % Change -14 % -18 % -17 % 9 % 6 % 7 %
Semi-Detached 140   203   343   511,139   351,164   416,460  
  Yr./Yr. % Change -4 % -16 % -11 % 3 % 6 % 6 %
Townhouse 123   327   450   393,515   310,371   333,097  
  Yr./Yr. % Change -19 % -15 % -16 % -2 % 1 % 0 %
Condo Apartment 612   223   835   359,775   257,813   332,545  
  Yr./Yr. % Change -6 % 0 % -5 % 9 % -1 % 6 %

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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