Toronto Real Estate agents reported 4,444 sales during the first two weeks of April 2011.
This was a 3 per cent decrease from the same period in 2010 however the average Toronto home resale price was up by 12 per cent to $483,165.
As a result of fewer homes listed on the Toronto MLS, the number of homes listed is below expectations, resulting in growing competition and increased average prices.
If more homes were listed for sale the result would be a more balanced Real Estate market.
Summary of Toronto Real Estate Sales and Average Prices:
City of Toronto (416) 1,760 sales $540,229 average price Up 15%
Detached (416) 655 sales $772,721 average price Up 15%
Condo (416) 683 sales $351,596 average price Up 10%
If you are looking to Buy or Sell homes or Condos in Toronto North York, Etobicoke or Yorkville, call Iris Li, 416.505.8023