The Toronto Real Estate Market showed 9,262 home sales for the month of March 2011. Even though this is 11% less than the March 2010 sales it is the second best March in TREB history! The Spring market has arrived!
Jason Mercer, TREB’s Senior Manager of Market Analysis , says “Market conditions were tighter compared to last year. With more competition between buyers, we have seen a strong rate of price growth". In other words, it always comes back to supply and demand. When there aren't enough listings on the market to satisfy demand means prices will rise.
- The average selling price for all homes in all TREB districts in March 2011 was $456,147 – up five per cent in comparison to the March 2010 average selling price of $434,696.
- Average days on market was 23, up marginally from 20 days a year ago.
- Average sales to listings ratio was 56% , the same as a year earlier. This is still an unusually high percentage of sales for the market as a whole - and it's a strong indicator that there's lots of demand.
East End Toronto Real Estate Statistics for March 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 95 sales, with 109 active listings at the end of the month, or a sales to listings ratio of 87% and an average price of $513,999. Average days on market – 11.
E02 (Beaches/Danforth Village)
E02 saw 94 sales, with 101 active listings at the end of the month, or a sales to listings ratio of 93% and an average price of $634,119. Average days on market – 13.
E03 (Riverdale/Danforth Village)
E03 saw 135 sales, with 187 active listings at the end of the month, or a sales to listings ratio of 72% and an average price of $473,844. Average days on market – 18.
East End Toronto Markets Are In Demand!
Just compare the stats for these solid 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 87%/ 93%/72% . Total TREB sales to listings were 56%.
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For the full Toronto Real Estate Market Statistics report, March 2011, see below for the ‘Slide-Share’ presentation. Use arrows to scroll through the presentation.