The Toronto Real Estate Board reported 4,337 home sales for the month of January 2011, 13% less than the January 2010 record of 4,986 sales but 62% more than the 2,670 sales from January 2009.
Remember that the financial markets collapsed in October 2008 and this had a terrible effect on consumer confidence and real estate in the first half of 2009.
Jason Mercer, TREB’s Senior Market Analysis Manager, says “The average selling price is expected to grow at a moderate pace in 2011" Mr. Mercer suggests that price increases of "three to five per cent will be sustainable from an affordability perspective”.
- The average home selling price in January 2011 was $427,037 – up four per cent in comparison to the January 2010 average selling price of $409,058.
- Average days on market was 36, compared to 28 from a year ago.
- Average sales to listings was 36% compared to 41% a year earlier.
East End Toronto Real Estate Statistics for January 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 33 sales, with 77 active listings at the end of the month, or a sales to listings ratio of 43%
- Average price of $488,024.
- Average days on market – 32.
E02 (Beaches/Danforth Village)
E02 saw 27 sales, with 64 active listings at the end of the month, or a sales to listings ratio of 42% and an average price of $629,559. Average days on market – 28. •
E03 (Riverdale/Danforth Village)
E03 saw 67 sales, with 125 active listings at the end of the month, or a sales to listings ratio of 54% and an average price of $403,366. Average days on market – 32.
East End Toronto Markets Are Stronger!
Once again, these attractive East End Toronto neighbourhoods outperform the overall Toronto Real Estate market. In particular, you’ll see that East End Toronto (E01, E02 & E03) has a higher percentage of sales to listings. Total TREB sales to listings were 36%.
Coming up in Toronto Real Estate Market Statistics
Watch for a future post, where I’ll be discussing changes to the way Toronto Real Estate Board tracks and report sales. In particular, we’ll finally see a distinction between the ‘416′ and ‘905′ markets! For the full Toronto Real Estate Market Statistics report, January 2011, see below for the 'Slide-Share' presentation. Use arrows to scroll through the presentation.
Market Watch January 2011