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2011 Resale Home Stats Totally Bury 2010’s

By on Jan 18, 2012 in Canada
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This post is a guest post by Sakthi Velusamy from toronto

For most accounts, 2011 was a success for Toronto’s resale market as the market outperformed 2010 in areas of sales, number of new listings, average prices, and average days on market.

  • Sales increased by 3,502 units
  • Average prices increased by $ 34,136
  • Number of new listings decreased by  5,890 units
  • Average days on market decreased by 2 days

 

Sales, New Listings, Average Price in 2010 and 2011 (GTA MLS® Listings)

Chart 1 2011 Resale Home Stats Totally Bury 2010’s

Sales of Major Home Types Through GTA MLS® (2010 and 2011)

Chart 2 2011 Resale Home Stats Totally Bury 2010’s

Many reasons have been cited for the surge in the market. According to Richard Silver, president of Toronto Real Estate Board, for instance, low cost of borrowing was a major reason why sales remained strong despite many negative predictions. In fact, Mr. Silver observed that had there been enough supply, we would have had a record-breaking year in terms of sales. 

What to Expect in 2012

Toronto housing bubble has been a major discussion point recently with predictions ranging from a devestating housing bubble, to flattening market, to a great success.  One thing we know for sure though, is that 2012 has gotten off to a great start with a six percent increase in sales compared to this time last year.

 


 

* The above stats are aggregated from TREB’s 2010 and 2011 market watch reports.

 

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