Toronto Real Estate Board

Toronto Real Estate Board

December 16, 2011 09:59 ET

GTA REALTORS® Report Mid-Month Resale Housing Market Figures

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

  • Toronto Real Estate Board
    Media Inquiries:
    Mary Gallagher
    Senior Manager Public Affairs
    (416) 443-8158
    maryg@trebnet.com