Company News: Page (1) of 1 - 03/19/12 Email this story to a friend. email article Print this page (Article printing at MyDmn.com).print page facebook

GTA REALTORS(R) Report Mid-Month Resale Housing Market Figures

(March 19, 2012)

TORONTO, ONTARIO -- (Marketwire) -- 03/19/12 -- During the first 14 days of March, Greater Toronto REALTORS?? reported 4,215 transactions through the TorontoMLS system, representing a seven per cent increase compared to the same period in 2011. The number of new listings was down by two per cent year-over-year to 6,970.

"Home buyers continue to benefit from the affordable housing situation in the GTA. Immigration to Toronto and surrounding areas adds to the pool of home buyers every year. The economic and ethnic diversity found in the GTA consistently attracts newcomers and foreign investment," said Toronto Real Estate Board (TREB) President Richard Silver.

The average selling price for transactions between March 1 and 14 was $502,155 - up by more than nine per cent compared to the first 14 days of March 2011. On average, homes sold for 100 per cent of the asking price within three weeks.

"Strong competition between home buyers in many parts of the GTA has resulted in sellers realizing their asking price in a short period of time. The fact that homes are selling for 100 per cent of the asking price, on average, suggests that sellers are very much in tune with the current market situation and know the fair market value of their home," said Jason Mercer, TREB's Senior Manager of Market Analysis.


Summary of TorontoMLS Sales and Average Price ---------------------------------------------------------------------------- March 1 - 14 2012 2011 --------------------------------------------------- Sales Average Price Sales Average Price City of Toronto ("416") 1,645 $ 553,536 1,556 $ 512,798 Rest of GTA ("905") 2,570 $ 469,267 2,371 $ 424,696 GTA 4,215 $ 502,155 3,927 $ 459,605 ---------------------------------------------------------------------------- TorontoMLS Sales & Average Price By Home Type ---------------------------------------------------------------------------- March 1 - 14, 2012 Sales Average Price 416 905 Total 416 905 Total -------------------------------------------------------- Detached 567 1,490 2,057 841,235 559,954 637,487 Yr./Yr. % Change 11% 14% 13% 10% 10% 10% Semi-Detached 180 284 464 552,728 386,243 450,828 Yr./Yr. % Change 8% -1% 2% 9% 8% 9% Townhouse 164 450 614 418,268 352,764 370,261 Yr./Yr. % Change -7% 2% -1% -4% 8% 4% Condo Apartment 710 284 994 360,900 275,140 336,397 Yr./Yr. % Change 4% 5% 4% 3% 8% 4% ----------------------------------------------------------------------------

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. The Toronto Real Estate Board is Canada's largest real estate board.

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

http://twitter.com/TREBhome

www.facebook.com/TorontoRealEstateBoard

www.youtube.com/TREBChannel

Contacts:
Media Inquiries:
Toronto Real Estate Board
Mary Gallagher
Senior Manager Public Affairs
(416) 443-8158
maryg@trebnet.com


Copyright @ Marketwire

Page: 1


Related Keywords: Toronto Real Estate Board , Marketwire, , Silver,

HOT THREADS on DMN Forums
Content-type: text/html  Rss  Add to Google Reader or
Homepage    Add to My AOL  Add to Excite MIX  Subscribe in
NewsGator Online 
Real-Time - what users are saying - Right Now!

Our Privacy Policy --- @ Copyright, 2015 Digital Media Online, All Rights Reserved