Toronto Real Estate Board

Toronto Real Estate Board

March 16, 2011 13:06 ET

GTA REALTORS® 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.

Get the latest real estate news and Market Watch information including market watch summary video

www.twitter.com/TREB_Official

www.facebook.com/TorontoRealEstateBoard

www.youtube.com/TREBChannel

Contact Information

  • For Media Inquiries:
    Toronto Real Estate Board
    Mary Gallagher, Senior Manager Media Relations
    Office: (416) 443-8158
    maryg@trebnet.com