Greater Toronto Area – January Resale Real Estate Market Figures for the GTA
TORONTO, February 4, 2011 — GTA REALTORS® reported 4,337 homes and condos sold through the TorontoMLS® system in January 2011. This result was 13% lower than the record result reported in January 2010.
“While off the record pace experienced a year ago, the GTA 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 TREB President Bill Johnston.
The average selling price for homes and condos this January 2011 sales was $427,037, representing an increase of over 4% 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, TREB’s Senior Manager of Market Analysis.
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