GTA REALTORS® Report Monthly Resale Housing Market Figures TORONTO, February 4, 2011
Greater Toronto REALTORS® reported 4,337 transactions through the TorontoMLS® system in January 2011.
This result was 13 per cent lower than the record result reported in January 2010.
“While off the record pace experienced a year ago, the GTA resale market has started the year on a solid footing. Home buyers in Toronto and surrounding areas continue to benefit from a diversity of housing types for sale at many different price points,” said TREB President Bill Johnston.
The average selling price for January 2011 sales was $427,037, representing an increase of over four per cent compared to the average of $409,058 reported in January 2010.
“The average selling price is expected to grow at a moderate pace in 2011. Growth rates in the three to five per cent range will be sustainable from an affordability perspective,” said Jason Mercer, TREB’s Senior Manager of Market Analysis
I hope this finds you happy and healthy!
Mark
For more information please contact A. Mark ArgentinoA. Mark Argentino, Broker, P.Eng.,Specializing in Residential & Investment Real EstateRE/MAX Realty Specialists Inc., Brokerage2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1BUS. 905-828-3434FAX. 905-828-2829E-MAIL: mark@mississauga4sale.comWebsite: Mississauga4Sale.com
Though the sales lowered down, it doesn't mean that the business is not running well. It only shows that people now at least prefer to stay with what they have and think of that reselling now as not a good time for their property.
ReplyDeleteYes, correct, business is still very brisk. The issue in Mississauga is that we need more inventory!
ReplyDeleteAll the best,
Mark