GTA January Housing

By Elli Davis, February 9, 2011

Photo by lioliz

January housing statistics have been published! Considering the record high sales in January 2010, they are not bad at all! In the city of Toronto the number of transactions through the Multiple Listing Service declined from 1,973 recorded in January 2010 to 1,718 last month. However the prices went up over the year from $428,151 to $447,644.

The trend was basically the same throughout the Greater Toronto Area. Exactly 4,337 home sales were reported by  Greater Toronto Realtors this past month. In comparison with January 2010 that is a 13 percent decline. There was also an increase in prices in the GTA. The average selling price last month was $427,037, up 4 percent from $409,058 seen in January 2010.

It should be pointed out that in spite of the decline in sales; the numbers are not really negative. In the words of Bill Johnson, the president of Toronto Real Estate Board, "the GTA resale market has started the year on a solid footing." Sales were simply extremely high in January of 2010.

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