Mid May GTA Resale Market report

Gordon Shirbon
Broker

Coldwell Banker Terrequity Realty, Brokerage
Independently owned and operated

211 Consumers Rd., Ste. 105 , Toronto, ON M2J 4G8

Direct: (416)495-2280 Phone: (416) 496-9220 Fax: (416) 496-2144 Toll: (800) 496-9220

Mid May GTA Resale Market report

May 24, 2011

GTA REALTORS® Mid-Month Resale Housing Market Figures

TORONTO, May 18, 2011 – Toronto Real Estate Board reported 4,774 MLS® sales during the first two weeks of May 2011, 2% lower than the May 2010 number.

The continuing positive economic outlook and sustained employment coupled with the still very low interest rates makes the real estate market in the GTA strong without any sign of instability – yet.

Average selling price for the first half of May was $486,223 – up more than 8% over 2010.

“The shortage of listing inventory has lead to an inevitable price increase. More supply would certainly curtail the upward price trend. Many sellers seem to be holding back selling their property as they cannot find a home to purchase. The old Chicken and Egg problem. Markets are the best mechanism to solve this. Wait and see.

Summary Of May Sales And Average Price

May 2011 May 2010

Sales Average Price Sales Average Price

City of Toronto ("416") 1,867 $543,787 1,984 $500,375

Rest of GTA (905") 2,907 $449,252 2,903 $413,284

GTA 4,774 $486,223 4,887 $448,641

: Source Toronto Real Estate Board

Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics

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April 2012 – GTA MLS Sales.

Toronto, May 3, 2012 – GTA Realtors® reported 10,350 MLS sales for April 2012, 18% higher than the 8,778 sales recorded in April 2011. Sales of single-detached homes were up by 22 % for an average sale price of $650,147.

The average transaction price for April 2012 was $517,556 – up 8.5 % over April 2011. Condo apartments were up by 4% to $339,978.

Affordability remains good and despite the usual hand wringing by the big banks over consumer indebtedness, interest rates look to remain low for the foreseeable future.

Summary of TorontoMLS Sales and Average Price
March 1 - 31
2012				2011
Sales		Average Price		Sales		Average Price
City of Toronto ("416")	3,682		$548,354		3,610		$498,050
Rest of GTA ("905")	6,008		$477,006		5,376		$428,155
GTA	9,690		$504,117		8,986		$456,234

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

Summary of TorontoMLS® Sales and Average Price
December 1-31			2011				2010
Sales		Ave. Price			Sales			Ave. Price
City of Toronto "416"	1,948			$474,270		1,818			$463,580
Rest of GTA "905"	2,770			$435,378		2,468			$411,383
GTA	4,718			$451,436		4,286			$433,523