Greater Toronto REALTORS® reported 3,206 sales through the TorontoMLS system through the first 14 days of February 2012 – up by more than nine per cent compared to the 2,933 sales reported during the same period in 2011. New listings were up by 13 per cent over the same period.
“The GTA resale home market became better supplied during the first 14 days of February. If growth in new listings continues to outstrip growth in sales this year, competition between home buyers will ease. More balanced market conditions on a sustained basis would result in a lower annual rates of price growth later in 2012,” said Toronto Real Estate Board (TREB) President Richard Silver.
The average selling price during the first 14 days of February was $491,493 – up by nine per cent compared to the first 14 days of February 2011. On average, sellers received 99 per cent of their asking price and their homes were on the market for an average of 25 days.
“Both buyers and sellers are aware of the substantial competition that exists for most listings in the GTA. There is not a mismatch in expectations, so homes sell quickly at close to the asking price,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
Wondering what your home or condo unit is worth? Contact Me, Just Click Here or call me directly at (416) 305-8008.
Kirby Chan Sales Rep., Director of Technology & Social Media
Keller Williams Real Estate Service
17 Church Ave., North York
Tel: (416) 222-6188 | Mobile: (416) 305-8008
info@KirbyChan.com | www.KirbyChan.com (Home Buying & Selling Resource Guide)
Search Toronto Homes & Condos For Sale
Real Estate Toronto 360
Connect with me on:
Power Search – Realtor.ca Doesn’t Have This Much Info
Get My Free Buyer’s Guide & Search For Homes
Get My Free Seller’s Guide & Find Out What Your Home is Worth
Condo Resource Guide and Free Condo Search