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Toronto sales and listing show growth
Greater Toronto Realtors reported 3,477 transactions through the Toronto MLS® system during the first 14 days of October 2011. This total represented a 20 per cent increase over 2,890 sales reported during the first two weeks of October 2010. Year-over-year growth in new listings for the same period was slightly stronger than that recorded for sales – up 21 per cent to 6,249.
"The first two weeks of October seem to be pointing towards more balanced market conditions as we move toward 2012. Growth in new listings outstripped growth in sales, meaning more choice for buyers," said Toronto Real Estate Board President Richard Silver. "A growing number of home owners are reacting to the above average price growth reported this year and have decided to list their home for sale. They are confident they will receive timely offers in line with their asking prices."
The average selling price during the first two weeks of October was $475,743 – up 7.5 per cent compared to the same period in 2010.
"The average resale home price is expected to grow at a slower pace in the months ahead because the market is becoming better supplied. There will be less competition between home buyers as we move through the fall and winter." said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis. "With a more balanced market in 2012, the average rate of annual price growth is expected to be in the mid single digits."
See Toronto Real Estate report »
October 19, 2011 in Toronto Real Estate Board | Permalink
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Comments
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Posted by: Dalileh | Feb 13, 2012 11:26:13 PM
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Posted by: Real Estate Continuing Education | Dec 20, 2011 2:42:40 PM
Interesting Information. The year 2009 & 2010 were crucial for determining the market value of Homes.
Though there were foreclosures and Loan Modification, Real estate continued to improve in the following years.
Posted by: Property Management Manchester | Nov 30, 2011 1:44:41 AM
It is great to hear that sales in your area are on the way up. We are still facing a down market here in my area of Massachusetts. I expect home values to continue to drop at least for another year.
Posted by: Ashland MA Realtor | Nov 28, 2011 12:02:55 PM
That's good considering October is and always has been labeled as a slower month for real estate. Sign of things to come for Toronto's real estate market.
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Posted by: CanadianResident26 | Nov 13, 2011 9:09:17 PM
Slow but steady, that is always good sign!
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At least someone is making some money in the northern hemisphere.
Posted by: Owner Financed Homes Austin | Nov 8, 2011 11:57:29 PM
You're company are one of the few companies in North America to have shown any progress in real estate. Keep soaring!
Posted by: Teyona @ Deer Valley Real Estate | Nov 3, 2011 2:03:33 AM
Toronto is actually among the places showing competitiveness right in the real estate market. Real estate course on the state also grows as people see opportunities on it as well.
Posted by: Dave Velasco | Nov 2, 2011 7:08:08 AM
That's a great news, doesn't it?
Posted by: Real Estate Agent - Jeff | Nov 1, 2011 7:56:25 PM
Hi, My house is valued around 1.1/1.2 million. This area of the market has been very slow, in Mississauga. However I have an offer, its a lowball offer, but not too bad. However, they are asking for a closing in the Spring. What issues should I consider in evaluating this long closing?
Posted by: Snooky | Oct 31, 2011 9:28:14 PM
How can you a dam sure. If it is then there is lot of offer.!!!
Posted by: furnished apartments new york | Oct 26, 2011 1:54:52 PM
Great article and great news!
Posted by: Owner Financed Homes Austin Tx | Oct 25, 2011 12:54:15 PM
Slowly but surely, the real estate market is recovering. Hopefully the entire Ontario market will continue to improve into 2012.
Posted by: Kitchener Homes - Mark | Oct 25, 2011 12:37:03 PM
Ofcourse real estate is one of the sector that will definitely grow. Not sure about businesses but the growth rate will boom... :)
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Posted by: Jorge J Gomez | Oct 21, 2011 12:44:07 PM
That's a great news, it would really nice of Canada's income would grow.
Posted by: Real Estate Agent - Jeff | Oct 20, 2011 9:21:09 PM
Its growing in a slower pace but it sure goes the old way, slowly but surely.
Posted by: HamptonsRealEstate | Oct 19, 2011 1:31:23 PM
