« Home values continue to rise | Main | Know your rights when buying »

Toronto MLS® listing activity down 21%

GTA Realtors Release Mid-Month Resale Housing Figures

Greater Toronto Realtors reported 4,444 sales during the first two weeks of April 2011 – a three per cent decrease compared to the first two weeks of April 2010. The number of new listings was down by 21 per cent compared to the same period last year.

"Sales activity was quite strong during the first two weeks of April. If this level of activity is sustained for the remainder of the month, we could see April transactions close to last year's record result. Positive economic news has kept households confident in their ability to purchase and pay for a home over the long term," said TREB President Bill Johnston.

The average selling price for firm deals reported through the first two weeks of April was $483,165, representing a 12 per cent increase over the average price of $430,271 reported during the same period last year.

"The number of homes listed for sale so far in 2011 has been below expectations. Market conditions have tightened, resulting in increased competition between home buyers and accelerating rates of average price growth," said Jason Mercer, TREB's Senior Manager of Market Analysis. "The strong rate of price growth reported for the first two weeks of April should entice more households to list their homes for sale. This would result in more balanced market conditions and more moderate rates of price growth," continued Mercer.

See Toronto Real Estate Board's report »

April 18, 2011 | Permalink

TrackBack

TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8341c51e453ef014e87e71305970d

Listed below are links to weblogs that reference Toronto MLS® listing activity down 21%:

Comments

This comes as good news for the Toronto market.

Posted by: Austin Homes | May 20, 2011 8:06:06 AM

Hi,
I get very nice detail by your side and I would like to inform you that if you are
Searching for an Apartment for rent in Toronto, Ontario at Kashaneh such as Toronto Rental Apartments, Iranian Hotel in Toronto etc. We offer a comfortable, affordable alternative to conventional Toronto hotels and motels. Kashaneh Toronto Furnished Apartments provides brilliant and at ease one, two and three bedroom apartments, fully furnished.

Thank you

Posted by: kashanehca | Apr 21, 2011 1:36:37 AM

The comments to this entry are closed.