Housing Market in the GTA – January

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By Elli Davis, February 14, 2012

Toronto by d3b

Greater Toronto Area housing statistics for the month of January have been published. If you are wondering whether the first month of 2012 was as successful as a great part of 2011, here is the answer: last month, Greater Toronto REALTORS® reported 4,567 sales through the Toronto MLS® system — an increase of 8.8 per cent from the 4,199 homes sold in January 2011!

Just as expected, the average price for a home rose significantly over the year, up 8.9 per cent from the $425,762 recorded in the first month of 2011 to the $463,534 seen last month. Similarly, the number of new listings went up by a very nice 8 per cent, from 8,937 to 9,655. On the other hand, active listings saw a year-to-year decline, falling by 8 per cent from 12,107 in January 2011 to 11,009 last month.

Simply put, 2012 has begun just as successfully as 2011 had finished. The positive housing trend in the GTA seems to be continuing, so let us hope that it will go on for many, many months.