TORONTO, ONTARIO--(Marketwire - Jan. 19, 2011) - Greater Toronto REALTORS® reported 1,563 sales during the first two weeks of January 2011 – an 11 per cent decrease compared to the first two weeks of January 2010.
"While off the record pace experienced last January, sales remain high from a historic perspective and market conditions remain tight enough to support a sustainable rate of price growth," said Toronto Real Estate Board (TREB) President Bill Johnston.
The average price for transactions during the first 14 days of January was $413,565, representing a five per cent increase compared to the first two weeks of January 2010.
"Average price growth continues to be supported by a positive affordability picture. A household earning the average income can afford mortgage payments associated with the purchase of an average priced home," said Jason Mercer, TREB's Senior Manager of Market Analysis.
| Sales & Average Price By Home Type | ||||||
| January-2011 | ||||||
| Sales | Average Price | |||||
| 416 | 905 | Total | 416 | 905 | Total | |
| Detached | 196 | 513 | 709 | 563,928 | 504,925 | 521,236 |
| Yr./Yr. % Change | -8% | -10% | -10% | -1% | 6% | 4% |
| Semi-Detached | 56 | 106 | 162 | 443,472 | 336,446 | 373,443 |
| Yr./Yr. % Change | -13% | -9% | -10% | 2% | 6% | 4% |
| Townhouse | 73 | 154 | 227 | 374,020 | 297,816 | 322,322 |
| Yr./Yr. % Change | -18% | -20% | -20% | 2% | 0% | 1% |
| Condo Apartment | 292 | 137 | 429 | 333,558 | 245,020 | 305,283 |
| Yr./Yr. % Change | -12% | -4% | -9% | 11% | 3% | 8% |
| Source: Toronto Real Estate Board | ||||||
| Summary Of January Sales And Average Price | ||||
| January | ||||
| 2011 | 2010 | |||
| Sales | Average Price | Sales | Average Price | |
| City of Toronto ("416") | 628 | $418,951 | 708 | $401,120 |
| Rest of GTA ("905") | 935 | $409,947 | 1,041 | $391,353 |
| GTA | 1,563 | $413,565 | 1,749 | $395,307 |
| Source: Toronto Real Estate Board | ||||
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