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%
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