Wednesday, May 18, 2011

Mid month Toronto Real Estate Board report on resale home sales in the GTA

This is the mid month report from the Toronto Real Estate Board on resale
home sales in the GTA

Once again, the number of sales is down comparing year over year but the
prices are up about 8% for the same period!

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

TORONTO, May 18, 2011 -- Greater Toronto REALTORS(r) reported 4,774 sales
through the TorontoMLS(r) during the first two weeks of May 2011. This
result was two per cent lower than the May 2010 figure of 4,887.

"The strong sales reported for the first half of May reflect the positive
economic outlook for the GTA. With the number of jobs increasing and
earnings growing, it makes sense that households remain confident in their
ability to purchase and pay for a home over the long term," said Toronto
Real Estate Board President Bill Johnston.

The average selling price for the first 14 days of May was $486,223 - an
increase of more than eight per cent compared to the same period in 2010.

"The average home selling price has been growing at a faster rate over the
last two months. This is not surprising given that the number of homes
available for sale has been down substantially in comparison to 2010.
Increased competition between buyers for available listings has prompted

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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