The Greater Toronto REALTORS® reported 4,337 transactions through the Toronto MLS® system in January 2011. This result was 13 per cent lower than the record result reported in January 2010. While off the record pace experienced a year ago, the GTA resale market has started the year on a solid footing. Home buyers in Toronto and surrounding areas continue to benefit from a diversity of housing types for sale at many different price points. The average selling price for January 2011 sales was $427,037, representing an increase of over four per cent compared to the average of $409,058 reported in January 2010. The average selling price is expected to grow at a moderate pace in 2011. Growth rates in the three to five per cent range will be sustainable from an affordability perspective.
January 2011 Market Report
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