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Toronto Market down 17%
GTA REALTORS® REPORT RESALE HOUSING FIGURES
Greater Toronto REALTORS® reported 9,041 existing home sales through the TorontoMLS® system in April 2011. This result was down 17 per cent compared April 2010 when sales spiked to a new record of 10,898. While off last year’s record result, April 2011 sales were in line with the average April sales level reported over the previous five years.
“Existing home sales have been strong from a historic perspective through the first four months of 2011. Expect the pace of sales to remain robust through the spring, as the economy expands and home buyers continue to benefit from affordable home ownership opportunities,” said Toronto Real Estate Board (TREB) President Bill Johnston.
Market conditions tightened markedly over the last year. April 2011 sales accounted for 62 per cent of new listings during the month – up substantially from 53 per cent in April 2010. Tighter conditions resulted in the average April selling price growing by nine per cent annually to $477,407. “The number of listings has been below expectations so far this year. Increased competition between home buyers has led to an accelerating annual rate of price growth,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The strong price growth experienced in April should result in more listings and more balanced market conditions.”
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May 4, 2011 in Toronto Real Estate Market | Permalink
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Comments
Nice topic to talk about, With this huge price gains close that is around and close to 10% doesn't seems to be that flat. Just if you had listen those ood for nothing people over last two centuries, two years, two months about the crash of prices!
and trust be this is not funny!
Posted by: The springs Dubai floor plans | May 23, 2011 3:12:34 AM
At least they are where they are projected to be.
Posted by: Austin Real Estate | May 20, 2011 8:04:46 AM
consumer continue to advantage from reasonably priced home rights chance
Posted by: 30 day treatment programs | May 16, 2011 2:10:52 AM
With this big price gains close to 10% YoY doesn't seems to be that flat. Just if you had listen those loosers over last two decades, two years, two months about the crash of prices :)
Posted by: GL | May 11, 2011 1:55:40 AM
Great article on the toronto housing figure. housing price i guess it can't be stagnant.
Posted by: Tayo | May 8, 2011 6:54:27 AM
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