Richard Silver

Greater Toronto REALTORS® Report January 2011 Monthly Resale Housing Market Figures

TORONTO, February 4, 2011 — Greater Toronto REALTORS®  reported 4,337 transactions through the TorontoMLS®  system in January 2011. This result was 13 per cent lower than the record result reported in January 2010.

“While off the record pace experienced a year ago, the Greater Toronto Area  resale market has started the year on a solid footing. Home buyers in Toronto and surrounding areas continue to benefit from a diversity of housing types for sale at many different price points,” said Toronto Real Estate Board  President Bill Johnston.

The average selling price for January 2011 sales was $427,037, representing an increase of over four per cent compared to the average of $409,058 reported in January 2010.

“The average selling price is expected to grow at a moderate pace in 2011. Growth rates in the three to five per cent range will be sustainable from an affordability perspective,” said Jason Mercer, Toronto Real Estate Board’s Senior Manager of Market Analysis. View it on YouTube at http://www.youtube.com/watch?v=IFTn3DolhA4.  

This entry was posted on Friday, February 4th, 2011 at 7:53 am and is filed under Around TORONTO, Buying in Toronto, Listings, Real Estate, Selling in Toronto, Toronto. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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