Toronto Real Estate Sales Down 5% mid March

John Pasalis in Toronto Real Estate News

From the Toronto Real Esate Board:

Greater Toronto REALTORS® reported 4,138 sales duringthe first two weeks of March 2011 – a five per cent decrease compared to the firsttwo weeks of March 2010. The number of new listings also dipped – down by 15per cent compared to the same period last year.

"A positive economic outlook for the Greater Toronto Area, including steadygrowth in jobs and incomes, has kept households confident in their ability topurchase and pay for a home over the long term," said Toronto Real Estate Board(TREB) President Bill Johnston.

The average price for transactions during the first 14 days of March was $460,196,representing a 4.6 per cent increase compared to the first two weeks of March2010."

Market conditions are tighter compared to this time last year, resulting in morecompetition between buyers and sustained upward pressure on the averageselling price. The annual rate of price growth is expected to range between threeand five per cent in 2011," said Jason Mercer, TREB's Senior Manager of MarketAnalysis.


John Pasalis is the Broker Owner of Realosophy Realty Inc in Toronto. Realosophy focuses on researching Toronto neighbourhoods to help their clients make smarter real estate decisions. Email John

Subscribe to the Move Smartly blog by email  

Market     |    

Toronto’s most authoritative real estate insights, delivered right to your inbox.