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GTA REALTORS® Report Mid-Month Resale Housing Market Figures

TORONTO, January 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.

Posted on Friday, January 21, 2011 at 04:37PM by Registered CommenterElaine in | CommentsPost a Comment

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