Toronto Real Estate Market Report: January 2011 Mid-Month Statistics

 Toronto Real Estate Market Report: January 2011 Mid-Month Statistics Photo

     Following is TREB’s market report for mid-January 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.

Toronto Real Estate Market Report: January 2011 Mid-Month Statistics Photo

If you’re thinking of making a move and would like to know how I can help, feel free to contact me for more info.

For complete copies of TREB’s Monthly Market Watch Reports, visit my archives here.

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