Company News: Page (1) of 1 - 11/03/11 Email this story to a friend. email article Print this page (Article printing at MyDmn.com).print page facebook

GTA Realtors(R) Release Resale Market Figures

(November 03, 2011)

TORONTO, ONTARIO -- (Marketwire) -- 11/03/11 -- Greater Toronto REALTORS?? reported 7,642 home sales through the TorontoMLS?? in October 2011. This represented an increase of 17.5 per cent compared to the 6,504 transactions reported in October 2010.

Monthly sales data follow a recurring seasonal trend that should be removed before comparing monthly results within the same year. After adjusting for seasonality, the annualized rate of sales for October was 97,100, which was above the average of 90,700 for the first three quarters of 2011.

"The pace of October resale home transactions remained brisk in the GTA. This bodes well for a strong finish to 2011," said Toronto Real Estate Board President Richard Silver. "Home buyers who found it difficult to make a deal in the spring and summer due to a shortage of listings have benefitted from increased supply in the fall."

The average selling price through the TorontoMLS?? in October was $478,137 - up eight per cent compared to October 2010.


"Sellers' market conditions remain in place in many parts of the GTA. The result has been above- average annual rates of price growth for most home types," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis. "Thanks to low interest rates, strong price growth has not substantially changed the positive affordability picture in the City of Toronto and surrounding regions."

Summary of TorontoMLS?? Sales and Average Price ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- October 1 - 31 2011 2010 ---------------------------------------------- Sales Average Price Sales Average Price City of Toronto ("416") 3,124 $522,606 2,690 $490,660 Rest of GTA ("905") 4,518 $447,388 3,814 $409,043 GTA 7,642 $478,137 6,504 $442,799 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- TorontoMLS?? Sales & Average Price By Home Type Sales Average Price 416 905 Total 416 905 Total ------------------------------------------------------------ Detached 1,038 2,540 3,578 751,612 534,258 597,314 Yr./Yr. % Change 9% 17% 15% 6% 9% 7% Semi-Detached 366 515 881 539,917 372,022 441,772 Yr./Yr. % Change 24% 28% 26% 9% 11% 10% Townhouse 330 801 1,131 440,207 342,146 370,758 Yr./Yr. % Change 20% 14% 16% 11% 11% 12% Condo Apartment 1,358 544 1,902 367,715 276,308 341,571 Yr./Yr. % Change 18% 19% 19% 9% 9% 9% ---------------------------------------------------------------------------- ----------------------------------------------------------------------------

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.

www.twitter.com/TREB_Official

www.facebook.com/TorontoRealEstateBoard

www.youtube.com/TREBChannel

Get the latest real estate news & Market Watch information & summary videos www.TorontoRealEstateBoard.com.

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