Toronto Real Estate Mid-Month Housing Report

GTA REALTORS® Report Mid-Month Resale Housing Market Figures
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The number of transactions for the first two weeks of April, 2012 increased an average of almost 7% in comparison to the same period in 2011. Greater Toronto REALTORS® reported 4,557 transactions through the Toronto MLS system during the first two weeks of April, 2012. Market conditions tightened compared to last year over the same p...eriod based on the number of new listings which grew over the same period, but at a rate lesser than the annual rate in the numbers of sales.
Toronto Real Estate Board President, Richard Silver says “competition between buyers remained strong in many parts of the GTA during the first half of April, with many listings attracting a lot of attention. Strong competition meant that, on average, sellers priced within market value range received offers that matched their asking prices within three weeks.”
The average selling price was up by 5% during the first two weeks of April 2012, compared to the same period last year. The annual price growth rate was higher in the regions surrounding the GTA.
“Growth in listings has not kept up with growth in sales. In the City of Toronto, new listings for low-rise homes types during the first half of April were actually down compared to last year,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
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