GTA Realtors Release Resale Market Figures
TORONTO - Greater Toronto realtors reported 7,642 home sales through the Toronto MLS in October 2011. This represented an increase of 17.5 per cent compared to the 6,504 transactions reported in October 2010.
Monthly sales data follow a recurring seasonal trend that should be removed before comparing monthly results within the same year. After adjusting for seasonality, the annualized rate of sales for October was 97,100, which was above the average of 90,700 for the first three quarters of 2011.
The average selling price through the Toronto MLS in October was $478,137—up eight per cent compared to October 2010. Sellers’ market conditions remain in place in many parts of the GTA. The result has been above- average annual rates of price growth for most home types.