July Sales and Averge Price Up Compared to 2010
August 4, 2011 -- Greater Toronto REALTORS reported 7,922 transactions through the TorontoMLS® system in July 2011, representing a 23 per cent increase over July 2010. Total sales through the first seven months of this year amounted to 55,863 – down by 1.3 per cent compared to the same period in 2010. After adjusting for seasonal fluctuations, the July figure continued to point to an annual sales result close to 90,000 – in line with results from the previous six months.
"Strong home sales continued in July, with a substantial rebound over last summer's slow-down brought about by higher mortgage rates, new lending guidelines and misconceptions about the HST. The greatest rebound was seen in the condominium apartment segment in the City of Toronto," said Toronto Real Estate Board President Richard Silver. "If the current pace of sales holds up, we could see the second best year on record under the current TREB market area."
The average selling price in July was $459,122 – up by almost ten per cent compared to the July 2010 average of $418,675.
"Tight market conditions have boosted the annual rate of price growth this year. However, the listings situation is starting to improve. A better supplied market later this year and into 2012 would lead to a more sustainable rate of price growth," said Jason Mercer, TREB's Senior Manager of Market Analysis.
Sales and Price Increase in May
June 3, 2011 -- Greater Toronto REALTORS® reported 10,046 sales in May 2011 – up six per cent compared to May 2010. This result was the second best on record for May under the current Toronto Real Estate Board service area. The number of new listings in May, at 16,076, was down 15 per cent compared to last year.
"Positive economic news and low borrowing costs led to strong sales through the first five months of the year, including the increase in May," said Toronto Real Estate Board President Bill Johnston. "At the same time, the market has become much tighter compared to last year, due to a substantial dip in new listings."
Homes were on the market for an average of 23 days and sold for an average price of $485,520– up nine per cent compared to $446,593 in May 2010. The strongest rate of price growth was experienced for single-detached homes sold in the City of Toronto.
"We have seen clear-cut seller's market conditions emerge over the past two to three months," explained Jason Mercer, TREB's Senior Manager of Market Analysis. "The robust price appreciation that we have seen will hopefully prompt more households to list, resulting in a more balanced market later this year," continued Mercer.
Median Price
In May, the median price was $400,000, from the $376,750 recorded during May of 2010.
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TORONTO, May 4, 2011 --
Greater Toronto REALTORS® reported 9,041 existing home sales through the TorontoMLS® system in April 2011.
This result was down 17 per cent compared April 2010 when sales spiked to a new record of 10,898. While off last year’s record result, April 2011 sales were in line with the average April sales level reported over the previous five years.
“Existing home sales have been strong from a historic perspective through the first four months of 2011. Expect the pace of sales to remain robust through the spring, as the economy expands and home buyers continue to benefit from affordable home ownership opportunities,” said Toronto Real Estate Board (TREB) President Bill Johnston.
Market conditions tightened markedly over the last year. April 2011 sales accounted for 62 per cent of new listings during the month – up substantially from 53 per cent in April 2010. Tighter conditions resulted in the average April selling price growing by nine per cent annually to $477,407.
“The number of listings has been below expectations so far this year. Increased competition between home buyers has led to an accelerating annual rate of price growth,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The strong price growth experienced in April should result in more listings and more balanced market conditions.”
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ull ReportSecond Best March on Record
TORONTO - April 5, 201
Greater Toronto Realtors reported 9,262 transactions through the TorontoMLS® system in March 2011, representing the second best March result on record. The number of transactions was 11 per cent lower than the record result reported in March 2010.
“The strong home sales reported in March and throughout the first quarter of 2011 have been based on a solid affordability picture and improving economic conditions in the GTA and country-wide,” said Toronto Real Estate Board (TREB) President Bill Johnston.
The average selling price for March 2011 was up five percent year-over-year to $456,147. The strongest average annual price growth was reported for condominium apartments and semi-detached houses, at approximately seven per cent for both home types.
“Market conditions were tighter in March compared to last year. With more competition between buyers, we have seen a strong but sustainable rate of price growth,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
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Median Price
In March, the median price was $385,000, from the $370,000 recorded during March of 2010.
Brampton and Malton Market update
In Brampton West W23 there was 679 active listing and 466 got sold with average price of $354,490 and for only 20 average numbers of days on the market.
Brampton East W24 there was 566 active listing and 334 got sold with average price of $ 378,901 and for only 19 average numbers of days on the market.
Malton W18 there was 97 active listing and 46 got sold with average price of $ 293,834 and for only 30 average numbers of days on the market
Average Selling Price Up in February
TORONTO - March 3, 2011
Greater Toronto REALTORS® % reported 6,266 transactions through the TorontoMLS® system in February 2011. This result was 14 per cent lower than the record sales reported in February 2010. While not representing a record, February 2011 sales were 50 per cent higher than the number reported in February 2009 during the recession and slightly higher
than the average February sales over the previous ten years. “Continued improvement in the GTA economy, including growth in jobs and incomes and a declining unemployment rate, has kept the demand for ownership housing strong,” said Toronto Real Estate Board (TREB) President Bill Johnston.
The average selling price for February 2011 transactions was $454,423, which was morethan five per cent higher than the average selling price reported in February 2010. “Market conditions remain quite tight in the GTA. There is enough competition between home buyers to promote continued price growth,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
Brampton and Malton Market update
In Brampton West W23 there was 573 active listing and 356 got sold with average price of $352,567 and for only 24 average numbers of days on the market.
Brampton East W24 there was 469 active listing and 208 got sold with average price of $ 380,753 and for only 22 average numbers of days on the market.
Malton W18 there was 89 active listing and 19 got sold with average price of $ 311,124 and for only 23 average numbers of days on the market
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Good Start to 2011
Greater Toronto REALTORS® % reported 4,337 transactions through the TorontoMLS® system in January 2011. This result was 13 per cent lower than the record result reported in January 2010. “While off the record pace experienced a year ago, the GTA resale market has started the year on a solid footing.
Home buyers in Toronto and surrounding areas continue to benefit from a diversity of housing types for sale at many different price points,” said TREB President Bill Johnston. The average selling price for January 2011 sales was $427,037, representing an increase of over four per cent compared to the average of $409,058 reported in January 2010.
“The average selling price is expected to grow at a moderate pace in 2011. Growth rates in the three to five per cent range will be sustainable from an affordability perspective,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
Median Price
In January, the median price was $360,000, from the $350,000 recorded during January of 2010.
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Brampton and Malton Market update
In Brampton West W23 there was 501 active listing and 229 got sold with average price of $348,886 and for only 31 average numbers of days on the market.
Brampton East W24 there was 329 active listing and 161 got sold with average price of $ 365,077 and for only 27 average numbers of days on the market.
Malton W18 there was 69 active listing and 25 got sold with average price of $ 273,624 and for only 46 average numbers of days on the market.
Sales Strong in November
TORONTO - December 3, 2010
Greater Toronto REALTORS reported 6,510 existing home sales in November – down 13 per cent from 7,446 sales in November 2009. New listings were also down 13 per cent annually to 8,642.
On a month-over-month basis, the seasonally adjusted annual rate of sales increased for the fourth straight month to 88,100. This rate was substantially higher than the July low of 67,900. “The GTA resale market has tightened since the summer. Healthy market conditions continued to support growth in the average selling price,” said Toronto Real Estate Board President Bill Johnston. “Sales through the first 11 months of the year were down only marginally compared to the same period in 2009. We remain on track for one of the best years on record under the current TREB market area,” continued Johnston.
The average selling price for November transactions was $438,030 - up five per cent compared to November 2009. “The average selling price in the GTA is affordable. A household earning the average income can comfortably cover the mortgage payments on an average priced home. Expect the average selling price to grow at a moderate pace over the next year,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
Brampton and Malton Market update
In Brampton West W23 there was 677 active listing and 274 got sold with average price of $343,939 and for only 30 average numbers of days on the market.
Brampton East W24 there was 471 active listing and 233 got sold with average price of $ 357,251 and for only 29 average numbers of days on the market.
Malton W18 there was 94 active listing and 29 got sold with average price of $ 284,639 and for only 43 average numbers of days on the market.
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October Price Growth Reflects Healthy Housing Market Conditions
Greater Toronto REALTORS® reported 6,681 sales through the Multiple Listing Service® (MLS®) in October 2010. This represented a 21 per cent decrease compared to the 8,476 sales recorded in October 2009. Through the first ten months of the year, sales amounted to 75,582 – up one per cent compared to the January through October period in 2009.
“The annual change in sales and average selling prices has been quite uniform across the GTA and by property type as the market has balanced out from record levels of sales in the second half of 2009 and first few months of 2010,” said Toronto Real Estate Board (TREB) President Bill Johnston.
“The composition of GTA home sales does differ depending on location. Condominium apartments accounted for 42 per cent of total sales in the City of Toronto and almost 60 per cent of sales in TREB’scentral districts,” Johnston continued. “In regions surrounding the City of Toronto, in contrast, low rise home types accounted for almost 90 per cent of transactions.” The average price for October transactionswas $443,729 – up five per cent compared to the average of $423,559 reported in October 2009. The average selling price through the first nine months of the year was $430,802. “The average selling price in the GTA has continued to grow relative to 2009 because home ownership has remained affordable,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis. “A household earningthe average income in the GTA can comfortably afford the mortgage payments associated with the purchase of an average priced home.” “The outlook for mortgage rates and income growth over the next year is favorable. The average home selling price could increase moderately next year and remain affordable for the average GTA household,” continued Mercer.
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Tight Market Results in Strong Price
Growth in April
