TORONTO, ONTARIO--(Marketwire - Dec. 16, 2011) - Greater Toronto REALTORS® reported 2,699 transactions through the TorontoMLS® system during the first 14 days of December. This result was 11 per cent above the number of transactions recorded during the same period in 2010. On a year-to-date basis, sales amounted to 87,407 - up 4.3 per cent compared to 2010.
"We have had the second best year on record for transactions under the current Toronto Real Estate Board boundaries. Households have continued to take advantage of affordable home ownership options across the diverse array of housing types available in the Greater Toronto Area," said TREB President Richard Silver.
The average selling price during the first two weeks of December 2011 was $460,967 - up six per cent in comparison to December 2010.
"Strong average price growth, driven by seller's market conditions, has been largely mitigated by the continuation of very low borrowing costs this year. The share of average household income going toward mortgage principal and interest has increased only marginally and remains in line with accepted mortgage lending standards," said Jason Mercer, TREB's Senior Manager of Market Analysis.
| Summary of TorontoMLS® Sales and Average Price |
| December 1 - 14 | ||||
| 2011 | 2010 | |||
| Sales | Average Price | Sales | Average Price | |
| City of Toronto ("416") | 1,139 | 486,414 | 1,057 | 472,181 |
| Rest of GTA ("905") | 1,560 | 442,388 | 1,374 | 407,143 |
| GTA | 2,699 | 460,967 | 2,431 | 435,421 |
| TorontoMLS® Sales & Average Price By Home Type | ||||||||||||||||||
| December 1 - 14, 2011 | ||||||||||||||||||
| Sales | Average Price | |||||||||||||||||
| 416 | 905 | Total | 416 | 905 | Total | |||||||||||||
| Detached | 364 | 866 | 1,230 | 708,993 | 533,359 | 585,335 | ||||||||||||
| Yr./Yr. % Change | 9 | % | 15 | % | 13 | % | 3 | % | 7 | % | 5 | % | ||||||
| Semi-Detached | 126 | 157 | 283 | 504,532 | 361,046 | 424,930 | ||||||||||||
| Yr./Yr. % Change | 34 | % | 4 | % | 16 | % | 2 | % | 6 | % | 7 | % | ||||||
| Townhouse | 110 | 287 | 397 | 364,929 | 337,110 | 344,818 | ||||||||||||
| Yr./Yr. % Change | -10 | % | 21 | % | 10 | % | -10 | % | 9 | % | 1 | % | ||||||
| Condo Apartment | 526 | 198 | 724 | 359,206 | 281,531 | 337,964 | ||||||||||||
| Yr./Yr. % Change | 6 | % | -2 | % | 4 | % | 4 | % | 13 | % | 7 | % | ||||||
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.
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Contact Information:
Media Inquiries:
Mary Gallagher
Senior Manager Public Affairs
(416) 443-8158
maryg@trebnet.com