Friday, April 06, 2012

Latest Toronto GTA real estate marketplace from the Toronto Real Estate Board April 2012

This is a summary of the latest GTA real estate marketplace from the Toronto Real Estate Board

Average price in March as $504,117 up 10% compared to March 2011 and volume of sale are up about 8%

See the graphs at my site

Read the full report below.

GTA REALTORS(r) Report Monthly Resale Housing Market Figures

Toronto, April 4, 2012 - Greater Toronto REALTORS(r) reported 9,690 sales through the TorontoMLS System in March 2012. This result was up by almost eight per cent in comparison to the 8,986 deals reported during the same period in 2011.

"The GTA resale market has not suffered from a lack of willing buyers this year. Buyers have been spurred on by the positive affordability picture brought about by low mortgage rates," said Toronto Real Estate Board President Richard Silver. "The challenge has been a lack of inventory. Many listings have attracted multiple interested buyers. Strong competition has led to annual rates of price growth well above the long-term average."

The average selling price in the GTA was $504,117 in March - up by 10.5 per cent in comparison to March 2011.

"The number of new listings was up last month in comparison to March 2011.

However, based on the historic relationship between price and listings, the GTA resale market should be better supplied. If competition between buyers remains as strong as it is right now, we will almost certainly see an average selling price above $500,000 for 2012 as a whole," 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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