January 2012 Market Recap

February 16, 2012 - Updated: February 16, 2012

 

According to the Toronto Real Estate Board (TREB), there were 4,567 sales through the Multiple Listing Service (MLS) in January. This is an 8 per cent increase from January 2011.


January saw an average selling price of $463,534 - which is almost a nine per cent increase from the average selling price of $425,762 reported in January 2011.


According to TREB president Richard Silver,low mortgage rates are keeping Canadians confident in their ability to achieve homeownership, The GTA buyer pool remain strong across the pricing spectrum.


The median price in December 2012 was $392,000.
The median price in December 2011 was $360,000.


"Strong price growth is expected to attract more listings. A better supplied market should result in a slower rate of price growth, especially in the second half of 2012" said Toronto Real Estate Board (TREB) Senior Manager of Market Analysis Jason Mercer.


*Market analysis based on numbers provided monthly by the Toronto Real Estate Board (TREB).


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