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.

GTA REALTORS® FEBRUARY SALES DATA

Toronto, March 5, 2012 – The Toronto Real Estate Board REALTORS® reported 7,032 MLS® sales in February 2012 – up 16 % over February 2011. New listings were up by a lesser 11 per cent to 12,684. Over the first 28 days of February, sales were up by 10% and new listings by 6%.

“No change there then. A mere 2 month’s inventory, still a strong seller’s market evidenced by the Sale Price to List Price ratio of 99% .

The average transaction price in the TREB market area was $502,508 in February – up 11 per cent over to February 2011. The Composite MLS® Home Price Index for TREB, which provides a less volatile measure of price growth compared to the average price, was up by 7.3 per cent compared February 2011.

Market price looks set to continue upward unless the improved numbers tempt more sellers into the Market Place. Bank of Canada said to day that economic data shows that our economy is improving they are going to keep the overnight rate at 1% so we can look forward to a strong market for the rest of 2012.

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 were 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.

 TORONTO, November 16, 2011 – The TorontoMLS® system reported 3,379 transactions for the first two weeks of November, a more than a 13 % increase over the first half of November 2010. New listings were up 16 % for the same period continuing the market correction to redress the imbalance between supply and demand. This is reflected in the slowing of average transaction price increase to 10% over 2010 to $481,548 in November 2011. Bodes well for our market, as affordability will remain good. The Bank of Canada seems set to keep interest rates low for the foreseeable future.

Despite Global uncertainty, or maybe because of it, our market remains strong. Foreign investors are a big factor in especially the condo market, seeing Canada as a haven of stability in an unstable world.