The Toronto Real Estate Board (TREB) has released Toronto MLS Statistics for March 1st to 14th, 2011:
4,138 resale homes were sold in the Greater Toronto Area, including the 416 area code and the 905 area code. In the 905 area code, 2,520 homes were sold and in the 416 area code 1,618 homes were sold.
According to Toronto Real Estate Board Senior Manager of Market Analysis Jason Mercer, “Market conditions are tighter compared to this time last year, resulting in more competition between buyers and sustained upward pressure on the average selling price.”
Prices increased by 4.6 per cent when compared with March 2010, to an average sale price of $460,196.
Toronto Real Estate Board President Bill Johnston said that, “a positive economic outlook for the Greater Toronto Area, including steady growth in jobs and incomes, has kept households confident in their ability to purchase and pay for a home over the long term.”