Thursday, January 05, 2012

8 Per Cent Price Increase for Toronto and GTA residential home sales for 2011

The year end figures for GTA residential home sales were just published.
2011 was the second best year on record with nearly 90,000 sales up about 4% compared to 2010

Average price for 2011 was $465,412 up about 8% compared to the 2010 average of $431,276

See the full press release below and I will update all my graphs and information on my website at http://www.mississauga4sale.com/TREBprice.htm in the next couple of days.

I wish you all the best in 2012!

Mark





GTA REALTORS(r) RELEASE MONTHLY RESALE MARKET FIGURES

TORONTO, January 5, 2012 - Greater Toronto REALTORS(r) reported 4,718
transactions through the TorontoMLS(r) system in December 2011. The December
result capped off the second-best year on record under the current Toronto
Real Estate Board (TREB) boundaries. Total sales for 2011 amounted to 89,347
- up four per cent in comparison to 2010.

"Low borrowing costs kept Buyers confident in their ability to comfortably
cover their mortgage payments along with other major housing costs," said
TREB President Richard Silver. "If Buyers had not been constrained by a
shortage of listings over the past 12 months, we would have been flirting
with a new sales record in the Greater Toronto Area," added Silver.

The average selling price in December was $451,436 - up four per cent
compared to December 2010. For all of 2011, the average selling price was
$465,412, an increase of eight per cent in comparison to the average of
$431,276 in 2010.

"Months of inventory remained below the pre-recession norm in 2011. Very
tight market conditions meant substantial competition between Buyers and
strong upward pressure on selling prices," said Jason Mercer, TREB's Senior
Manager of Market Analysis.


"TREB's baseline forecast for 2012 is for an average price of $485,000,
representing a more moderate four per cent annual rate of price growth. This
baseline view is subject to a heightened degree of risk given the uncertain
global economic outlook," continued Mercer. Summary of TorontoMLS(r) Sales
and Average Price


December 1-31

2011

2010


Sales

Ave. Price

Sales

Ave. Price


City of Toronto "416"

1,948

$474,270

1,818

$463,580


Rest of GTA "905"

2,770

$435,378

2,468

$411,383


GTA

4,718

$451,436

4,286

$433,523


TorontoMLS(r) Sales & Average Price By Home Type


December 1-31, 2011

Sales

Ave. Price


416

905

Total

416

905

Total


Detached

581

1,512

2,093

701,846

525,360

574,351


Yr./Yr. % Change

4%

12%

10%

3%

4%

3%


Semi-Detached

202

289

491

517,152

365,417

427,842


Yr./Yr. % Change

20%

12%

15%

10%

9%

10%


Townhouse

199

517

716

372,164

333,359

344,144


Yr./Yr. % Change

3%

20%

15%

-7%

8%

2%


Condo Apartment

943

363

1,306

351,104

275,173

330,000


Yr./Yr. % Change

7%

-3%

4%

3%

9%

5%

No comments:

Post a comment