GTA REALTORS® Report Mid-Month Resale Housing Market Figures

Greater Toronto REALTORS® reported 1,506 sales through the TorontoMLS® system during the first two weeks of January 2012. This result represented a six per cent increase compared to the first 14 days of January 2011. New listings were also up on a year-over-year basis, but by a lesser
3.7 per cent.

“The market didn’t miss a beat after the holiday season, with robust sales growth continuing and sellers’ market conditions remaining in place. Strong competition between buyers continued to push the average selling price higher in the Greater Toronto Area relative to a year ago,” said Toronto Real Estate Board (TREB) President Richard Silver.

The average selling price during the first two weeks of 2012 was $444,473 – up by more than 8.5 per cent compared to the same period in 2011.

“Prices were up for most major home categories in the GTA in comparison to last year. The strongest price growth was for single-detached homes in the City of Toronto. The average price of singles in the 416 area code was up by 22 per cent year-over-year, pointing to a greater weighting of higher end detached homes changing hands compared to the same time last year,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Summary of TorontoMLS® Sales and Average Price (January 1 – 14)


2012 2011
Sales Average Price Sales Average Price
City of Toronto ("416") 552 $467,152 581 $416,647
Rest of GTA ("905") 954 $431,351 839 $404,341
GTA 1,506 $444,473 1,420 $409,376
TorontoMLS® Sales & Average Price By Home Type (January 1-14)

Sales Average Price
416 905 Total 416 905 Total
Detached 161 503 664 705,509 521,345 565,999
Yr./Yr. % Change -4% 13% 8% 22% 4% 8%
Semi-Detached 38 115 153 440,168 369,986 387,417
Yr./Yr. % Change -22% 22% 7% -1% 8% 3%
Townhouse 59 190 249 396,685 343,341 355,981
Yr./Yr. % Change -13% 30% 16% 7% 17% 12%
Condo Apartment 290 128 418 354,127 261,045 325,624
Yr./Yr. % Change 1% -2% 0% 6% 6% 6%


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.
Media Inquiries:

Mary Gallagher,
Senior Manager Public Affairs
(416) 443-8158
maryg@trebnet.com

     
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