GTA REALTORS(R) Report Monthly Resale Housing Market Figures

TORONTO, ONTARIO--(Marketwire - March 16, 2011) - Greater Toronto REALTORS® reported 4,138 sales during the first two weeks of March 2011 – a five per cent decrease compared to the first two weeks of March 2010. The number of new listings also dipped – down by 15 per cent compared to the same period last year.

"A positive economic outlook for the Greater Toronto Area, including steady growth in jobs and incomes, has kept households confident in their ability to purchase and pay for a home over the long term," said Toronto Real Estate Board (TREB) President Bill Johnston.

The average price for transactions during the first 14 days of March was $460,196, representing a 4.6 per cent increase compared to the first two weeks of March 2010.

"Market conditions are tighter compared to this time last year, resulting in more competition between buyers and sustained upward pressure on the average selling price. The annual rate of price growth is expected to range between three and five per cent in 2011," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Summary Of March Sales And Average Price
	March 1st to 14th, 2011
	2011		2010
	Sales	Average Price	Sales	Average Price
City of Toronto ("416")	1,618	$512,179	1,726	$491,680
Rest of GTA ("905")	2,520	$426,820	2,627	$406,298
GTA	4,138	$460,196	4,353	$440,153
Source: Toronto Real Estate Board

 

Sales & Average Price By Home Type
		March 1st to 14th, 2011
		Sales			Average Price
		416	905	Total	416	905	Total
Detached		537	1,399	1,936	758,409	512,864	580,972
	Yr./Yr. % Change	-12%	-6%	-8%	6%	7%	6%
Semi-Detached		176	305	481	502,455	356,812	410,104
	Yr./Yr. % Change	-15%	3%	-5%	2%	6%	2%
Townhouse		184	474	658	433,119	324,465	354,849
	Yr./Yr. % Change	-2%	-1%	-1%	14%	2%	6%
Condo Apartment		703	278	981	352,057	254,529	324,419
	Yr./Yr. % Change	1%	-6%	-1%	8%	2%	7%
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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