GTA REALTORS® Report Mid-Month Resale Housing Market Figures

Greater Toronto REALTORS® reported 3,206 sales through the TorontoMLS system through the first 14 days of February 2012 – up by more than nine per cent compared to the 2,933 sales reported during the same period in 2011. New listings were up by
 13 per cent over the same period.

“The GTA resale home market became better supplied during the first 14 days of February. If growth in new listings continues to outstrip growth in sales this year, competition between home buyers will ease. More balanced market conditions on a sustained basis would result in a lower annual rates of price growth later in 2012,” said Toronto Real Estate Board (TREB) President Richard Silver.

The average selling price during the first 14 days of February was $491,493 – up by nine per cent compared to the first 14 days of February 2011. On average, sellers received 99 per cent of their asking price and their homes were on the market for an average of 25 days.

“Both buyers and sellers are aware of the substantial competition that exists for most listings in the GTA. There is not a mismatch in expectations, so homes sell quickly at close to the asking price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.



Summary of TorontoMLS® Sales and Average Price



February 1 - 14



2012

2011



Sales

Average Price

Sales

Average Price

City of Toronto ("416")

1,214

$543,068

1,244

$499,489

Rest of GTA ("905")

1,992

$460,061

1,689

$414,958

GTA

3,206

$491,493

2,933

$450,811











TorontoMLS® Sales & Average Price By Home Type



February 1 - 14, 2012



Sales

Average Price



416

905

Total

416

905

Total















Detached

417

1,154

1,571

776,011

553,233

612,366

Yr./Yr. % Change

8%

22%

18%

3%

11%

7%

Semi-Detached

131

209

340

595,453

382,458

464,524

Yr./Yr. % Change

-2%

12%

6%

18%

9%

12%

Townhouse

103

343

446

390,750

341,459

352,842

Yr./Yr. % Change

-12%

11%

5%

0%

10%

6%

Condo Apartment

552

247

799

388,215

269,637

351,558

Yr./Yr. % Change

-7%

15%

-1%

8%

4%

5%
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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