MID - JANUARY GTA MLS
TORONTO, January 17, 2012 – GTA REALTORS® reported 1,506 MILS during the first two weeks of January 2012., a 6% increase over the first 14 days of January 2011. New listings were also up by 3.7%.
A Sellers’ market remains in place. The increase year over year in new listings was insufficient to correct the imbalance between demand and supply resulting in an inevitable average transaction price rise of 8.5% to $444,473
The average selling price during the first two weeks of 2012 was $444,473 – up by more than 8.5 per cent compared to the same period in 2011.
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The Bank of Canada kept it’s rate at 1% citing the prospect of a slowing economy due economic contraction in the Euro zone amongst other factors. Provided that employment in Southern Ontario does not decline drastically we can predict another healthy year for Real Estate in the GTA.
Summary of TorontoMLS® Sales and Average Price (January 1 – 14)
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2012
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2011
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Sales
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Average Price
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Sales
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Average Price
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City of Toronto ("416")
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552
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$467,152
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581
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$416,647
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Rest of GTA ("905")
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954
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$431,351
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839
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$404,341
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GTA
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1,506
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$444,473
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1,420
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$409,376
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2011 GTA MARKET REPORT
2011 MLS
TORONTO, January 5, 2012 The Toronto Real Estate Board reported 4,718 MLS transactions through the TorontoMLS® system in December 2011. This gave a total of 89,347 for the year – up four per cent in comparison to 2010 and is the second best year on record under the current Toronto Real Estate Board (TREB) boundaries. This despite an extended shortage of listings. . We could have sold more had we the product and possibly kept the year on year price increase below 8%. An increase from the $431,276 of 2010 to $465,412 in 2011. A more sustainable 4% increase is forecast for 2012 to an average price in the $480,000’s
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Summary of TorontoMLS® Sales and Average Price
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December 1-31
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2011
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2010
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Sales
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Ave. Price
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Sales
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Ave. Price
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City of Toronto "416"
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1,948
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$474,270
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1,818
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$463,580
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Rest of GTA "905"
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2,770
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$435,378
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2,468
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$411,383
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GTA
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4,718
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$451,436
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4,286
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$433,523
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