Toronto Real Estate Sales Up 25%
The Toronto Real Estate Board has released its resale housing sales figures for September, saying that home sales through the Toronto MLS listings have increased by 25 per cent over September 2010.
Toronto Real Estate Board figures for September 2011. Click for full size.
“We have experienced strong growth in sales so far this year, with a much more active summer compared to 2010,” said Richard Silver, the president of the Toronto Real Estate Board. “However, while sales have been strong, we have continued to experience a shortage of listings, resulting in more competition between home buyers. Over the past few months, the listing situation has started to improve, so we expect home buyers will have more homes to choose from in the months ahead.”
In September, new listings increased by only 15 per cent, eclipsed by the increase in sales for the month and creating tighter market conditions for the Greater Toronto Area real estate market.
According to the senior manager of market analysis for the Toronto Real Estate Board, Jason Mercer: “strong price growth through the first nine months of the year was mitigated to a great degree by low interest rates and rising incomes,” he said. “As buyers continue to take advantage of the affordable home ownership options in the GTA, we remain on pace for the second best year for sales under the current TREB market area.”
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