According to the Toronto Real Estate Board report for the first two weeks of June, Toronto MLS System sales increased by 16 per cent over the first two weeks of June in 2010, with total sales of 4,787 units.
“The spring has always been the busiest time in the resale market, but the results for May and the first two weeks of June represented a marked improvement over last year,” said Toronto Real Estate Board president Bill Johnston,” Low mortgage rates have kept affordability in check and buyers have felt confident in paying for a home over the long term,” he said.
New listings in the first two weeks of June 2011 decreased eight per cent when compared with the same time period last year.
“Listings have been in short supply this year, while a lot of people have been looking to buy,” said the Toronto Real Estate Board’s Senior Manager of Market Analysis, Jason Mercer. “The result has been enhanced competition between buyers and more upward pressure on price. Strong price growth will prompt more home owners to list as we move toward 2012,” he said.
Sales in the 416 area code increased from 1,681 during the first two weeks of June last year to 1,1913 this year, with the remaining sales in the 905 area. Condominium apartments saw the highest level of sales with 788 units in the 416 area code, increasing by 13 per cent year over year.
This site is owned & operated by: Royal LePage Real Estate Services Ltd Johnston & Daniel Division,477 Mount Pleasant Road, Toronto, Ontario, M4S 2L9, 416.489.2121. The content is provided by a number of sources as referenced in the contribution list.