Thursday, February 17, 2011

Prices up Number of sales down in GTA real estate marketplace for mid February 2011

The volume of sales is down in the GTA because inventories are down. There is high demand, this is why prices are increasing, but low inventories of good homes for sale. If you are interested in selling this year, now is the time to do it!

Bottom line: We need more listings on the market!

See the mid month report from TREB below.

All the best,

GTA REALTORS(r) Report Mid-Month Resale Housing Market Figures

TORONTO, February 17, 2011 -- Greater Toronto REALTORS(r) reported 3,084
sales during the first two weeks of February 2011 - a 13 per cent decrease
compared to the first two weeks of February 2010.

"We are on pace for a strong sales result in February, but transactions will
come in lower than the record result reported last February. Sales remain
strong because the GTA resale market contains a diversity of housing types
catering to a wide array of home ownership needs," said Toronto Real Estate
Board (TREB) President Bill Johnston.

The average price for transactions during the first 14 days of February was
$451,257, representing a five per cent increase compared to the first two
weeks of February 2010.

"Average selling price growth for existing homes is expected to range
between three and five per cent this year. Tighter market conditions over
the last four months have pushed price growth to the top end of this range,"
said Jason Mercer, TREB's Senior Manager of Market Analysis.

I hope this finds you Happy and Healthy!

All the Best!


A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
BUS 905-828-3434
FAX 905-828-2829 CELL 416-520-1577

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