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Strong Sales/Price Growth Continue in 2012
 
Feb 7, 2012
 

TORONTO, February 3, 2012 — Greater Toronto REALTORS® reported 4,567
sales through the TorontoMLS® system in January 2012. This number was 8.8
per cent higher than the 4,199 sales reported in January 2011. Sales growth
was

 

TORONTO, February 3, 2012 — Greater Toronto REALTORS® reported 4,567
sales through the TorontoMLS® system in January 2012. This number was 8.8
per cent higher than the 4,199 sales reported in January 2011. Sales growth
was strongest for low-rise home types in the regions surrounding the City of
Toronto.
“A favourable affordability picture bolstered by very low posted fixed
mortgage rates has kept home buyers confident in their ability to achieve the
Canadian goal of home ownership,” said Toronto Real Estate Board President
Richard Silver.
“The buyer pool remains diverse in the GTA with strong interest in home types
across the pricing spectrum,” continued Silver.
The average selling price for January 2012 transactions was $463,534 – up by
almost nine per cent compared to January 2011.
“Low inventory levels have kept competition between buyers strong, resulting
in robust annual rates of price growth over the last year. 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,” said Jason.

(Toronto Real Estate Board)

 
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