Toronto Real Estate Board Figures For January 2012

The Toronto Real Estate Board has released its sales figures for the month of January 2012. Sales in January 2012 were almost nine per cent higher than in January 2011, with 4,567 sales compared to 4,199 sales.

“A favourable affordability picture bolstered by very low posted fixed mortgage rates has kept home buyers condiment in their ability to achieve the Canadian goal of homeownership,” said Richard Silver, the president of the Toronto Real Estate Board, in a press release. “The buyer pool remains diverse in the GTA with strong interest in home types across the pricing spectrum.”

In January 2012, the average price of a Greater Toronto Area home was $463,534, which is nine per cent higher than January of last year. But according to the Toronto Real Estate Board, an increase in new listings should calm prices.

“Low inventory levels have kept competition between buyers strong, resulting in robust annual rates of price growth over the last year,” said Jason Mercer, the senior manager or market analysis for the Toronto Real Estate Board. “Strong price growth is expected to attract more listings. A better supplied market should result in a slower rate of price growth, especially in the second half of 2012.”

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.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s