The Toronto Real Estate Market showed 6,226 home sales for the month of February 2011, 15% less than the February 2010 sales of 7,291 but 50% more than the 4,120 sales from January of this year.
Jason Mercer, TREB’s Senior Market Analysis Manager, says “Market conditions remain quite tight in the GTA. There is enough competition between home buyers to promote continued price growth”. In other words, still not enough listings on the market to satisfy demand.
- The average home selling price in February 2011 was $454,423 – up five per cent in comparison to the February 2010 average selling price of $431,509.
- Average days on market was 27, compared to 22 from a year ago.
- Average sales to listings was 27% compared to 24% a year earlier. (This is a bit odd. Usually a higher sales to listings ratio indicates more demand, which would reduce the average days on market. )
East End Toronto Real Estate Statistics for February 2011
While it’s important to know what the market is doing in the GTA, I like to focus on the East End Toronto Real Estate Market, specifically districts E01, E02, and E03, which include The Beaches, Leslieville, Riverdale and Danforth Village, Danforth Mosaic and East Danforth.
E01 (Leslieville / Riverdale)
E01 had 69 sales, with 95 active listings at the end of the month, or a sales to listings ratio of 73% (that's a spectacular number! and nearly 3 times higher than the entire TREB average) and an average price of $537,031. Average days on market – 13.
E02 (Beaches/Danforth Village)
E02 saw 60 sales, with 92 active listings at the end of the month, or a sales to listings ratio of 65% and an average price of $595,332. Average days on market – 16.
E03 (Riverdale/Danforth Village)
E03 saw 78 sales, with 168 active listings at the end of the month, or a sales to listings ratio of 46% and an average price of $427,939. Average days on market – 22.
East End Toronto Markets Are Stronger!
Just compare the stats for these attractive East End Toronto neighbourhoods to the overall Toronto Real Estate market and you'll understand how much this area is in demand! In particular, you should pay attention to the East End Toronto (E01, E02 & E03) sales to listings ratio of 73%/ 65%/46% . Total TREB sales to listings were 27%.
Help me Customize this Toronto Real Estate Statistics Post
What conclusions/trends/events would you like me to report on?
Each month I sift through a mountain of raw data to deliver answers to your most important questions. Am I succeeding? Leave a comment below or send an email to let me know how you'd like this post to change. I can examine other stats, or spend more time on the conclusions I draw from the data. This post is for you and I'd like it to be as relevant to your needs as possible.
For the full Toronto Real Estate Market Statistics report, February 2011, see below for the ‘Slide-Share’ presentation. Use arrows to scroll through the presentation.
Market Watch February 2011