TORONTO, ONTARIO--(Marketwire - Jan. 19, 2011) - Greater Toronto REALTORS® reported 1,563 sales during the first two weeks of January 2011 – an 11 per cent decrease compared to the first two weeks of January 2010.
"While off the record pace experienced last January, sales remain high from a historic perspective and market conditions remain tight enough to support a sustainable rate of price growth," said Toronto Real Estate Board (TREB) President Bill Johnston.
The average price for transactions during the first 14 days of January was $413,565, representing a five per cent increase compared to the first two weeks of January 2010.
"Average price growth continues to be supported by a positive affordability picture. A household earning the average income can afford mortgage payments associated with the purchase of an average priced home," said Jason Mercer, TREB's Senior Manager of Market Analysis.
Sales & Average Price By Home Type | ||||||
January-2011 | ||||||
Sales | Average Price | |||||
416 | 905 | Total | 416 | 905 | Total | |
Detached | 196 | 513 | 709 | 563,928 | 504,925 | 521,236 |
Yr./Yr. % Change | -8% | -10% | -10% | -1% | 6% | 4% |
Semi-Detached | 56 | 106 | 162 | 443,472 | 336,446 | 373,443 |
Yr./Yr. % Change | -13% | -9% | -10% | 2% | 6% | 4% |
Townhouse | 73 | 154 | 227 | 374,020 | 297,816 | 322,322 |
Yr./Yr. % Change | -18% | -20% | -20% | 2% | 0% | 1% |
Condo Apartment | 292 | 137 | 429 | 333,558 | 245,020 | 305,283 |
Yr./Yr. % Change | -12% | -4% | -9% | 11% | 3% | 8% |
Source: Toronto Real Estate Board | ||||||
Summary Of January Sales And Average Price | ||||
January | ||||
2011 | 2010 | |||
Sales | Average Price | Sales | Average Price | |
City of Toronto ("416") | 628 | $418,951 | 708 | $401,120 |
Rest of GTA ("905") | 935 | $409,947 | 1,041 | $391,353 |
GTA | 1,563 | $413,565 | 1,749 | $395,307 |
Source: Toronto Real Estate Board |
Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 31,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada's largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.
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maryg@trebnet.com
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