Spring 2011 Market Watch

May 26, 2011 - Updated: May 26, 2011


March 2011


According to the Toronto Real Estate Board (TREB), there were 9,262 sales through the Multiple Listing Service (MLS) in March. This is a 11 per cent decrease from March 2010.

March saw an average selling price of $456,147 - a five per cent increase from the average selling price of $434,696 reported in March 2010.

The improved economic conditions and a solid affordability picture were key factors in the strong homes sales they were reported in March.

The median price in March 2011 was $385,000
The median price in March 2010 was $370,000.

"Market conditions were tighter in March compared to last year. With more competition between buyers, we have seen a strong but sustainable rate or price growth" said Toronto Real Estate Board (TREB) Senior Manager of Market Analysis Jason Mercer.

April 2011

According to the Toronto Real Estate Board (TREB), there were 9,041 sales through the Multiple Listing Service (MLS) in April. This is a 17 per cent decrease from April 2010. Though off from last years record results, April 2011 sales are comparable to the average April sales over the last five years.

April saw an average selling price of $477,407 - a nine per cent increase from the average selling price of $437,600 reported in April 2010.

Competition between home buyers have led to rate of price growth throughout the month of April which is a direct result of the number of listings on the market being well below the expectations so far this year.

The median price in March 2011 was $402,000
The median price in March 2010 was $373,000

"Expect the pace of sales to remain robust through the spring, as the economy expands and home buyers continue to benefit from affordable home ownership opportunities" said Toronto Real Estate Board (TREB) President Bill Johnston

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


Tagged with: article spring market watch 2011 sales toronto
| | Share

Leave a comment...

Please enter the numbers found on the right.

Royal LePage Terrequity Realty
211 Consumers Rd., Suite 105
Toronto, ON, M2J 4G8
(416) 496-9220
Powered by Lone Wolf Real Estate Technologies (CMS6)