GTA REALTORS® Report Monthly Resale Housing Market Figures
Greater Toronto REALTORS® reported 6,266 transactions through the TorontoMLS® system in February 2011. This result was 14% lower than the record sales reported in February 2010.
While not representing a record, February 2011 sales were 50% higher than the number reported in February 2009 during the recession and slightly higher than the average February sales over the previous ten years.
“Continued improvement in the GTA economy, including growth in jobs and incomes and a declining unemployment rate, has kept the demand for ownership housing strong,” said Toronto Real Estate Board (TREB) President Bill Johnston.
The average selling price for February 2011 transactions was $454,423, which was more than 5% higher than the average selling price reported in February 2010. “Market conditions remain quite tight in the GTA. There is enough competition between home buyers to promote continued price growth,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
Sales Average Price Sales Average Price
City of Toronto (“416″)
2010 Sales: 2,577 | Average Price: $497,481
2009 Sales: 2,891 | Average Price: $475,579
Rest of GTA (“905″)
2010 Sales: 3,689 | Average Price: $424,345
2009 Sales: 4,400 | Average Price: $402,553
GTA
2010 Sales: 6,266 | Average Price: $454,423
2009 Sales: 7,291 | Average Price: $431,509
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