Market Conditions Tightened, Greater Toronto REALTORS® reported 4,557 TorontoMLS Transactions

Greater Toronto REALTORS® reported 4,557 transactions through the TorontoMLS system during the first two weeks of April 2012. This result represented an increase of almost seven per cent in comparison to the same period
in April 2011.

The number of new listings grew over the same period, but by a lesser annual rate than sales, which means market conditions tightened compared to last year.

“Competition between buyers remained strong in many parts of the Greater Toronto Area during the first half of April, with many listings attracting a lot of attention. Strong competition meant that, on average, sellers priced within market value range received offers that matched their asking prices within three weeks,” said Toronto Real Estate Board President Richard Silver.

The average selling price during the first two weeks of April was $506,954 – up by five per cent compared to the first half of April 2011. The annual rate of price growth was stronger in the GTA regions surrounding the City of Toronto.

 “Growth in listings has not kept up with growth in sales. In the City of Toronto, new listings for low-rise home types during the first half of April were actually down compared to last year. This helps explain why some of the tightest market conditions in the GTA can be found within the ‘416’ area code,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 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 34,000 TREB Members serve consumers in the Greater Toronto Area. TREB is Canada’s largest real estate board.

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


Summary of TorontoMLS Sales and Average Price
April 1 - 14
2012 2011
Sales Average Price Sales Average Price
City of Toronto ("416") 1,731 $553,104 1,706 $541,773
Rest of GTA ("905") 2,826 $478,685 2,562 $445,019
GTA 4,557 $506,954 4,268 $483,693
TorontoMLS Sales & Average Price By Home Type
Sales Average Price
416 905 Total 416 905 Total
Detached 629 1,613 2,242 798,092 569,252 633,453
Yr./Yr. % Change 0% 10% 7% 3% 7% 5%
Semi-Detached 211 317 528 565,061 391,398 460,798
Yr./Yr. % Change 5% 5% 5% -1% 6% 3%
Townhouse 182 536 718 422,735 365,321 379,874
Yr./Yr. % Change -4% 22% 14% 1% 9% 5%
Condo Apartment 683 280 963 364,516 290,105 342,880
Yr./Yr. % Change 2% 0% 2% 4% 8% 5%
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1 comment:

RES said...

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