15 Feb 2011

Thousands of home transactions in Toronto area last month

By
The number of people moving to the Greater Toronto area last month may be slightly off the pace when compared to January 2010, but the city’s real estate market continues to move forward.
According to the Toronto Real Estate Board, there were 4,337 transactions for resold houses in January. That’s 13 percent lower compared to this same time last year, but January 2010 was a record month for housing and demand for storage units in Toronto.
“While off the record pace experience a year ago, the GTA resale market has started the year on a solid footing,” said Bill Johnston, president of the Toronto Real Estate Board. “Home buyers in Toronto and surrounding areas continue to benefit from a diversity of housing types for sale at many different price points.”
The report says that the average selling price for a Toronto home in January was $427,037, approximately 4 percent higher than the average price in January 2010.
The high rate of moving likely won’t let up. According to Statistics Canada, projections indicate that Ontario’s population is expected to grow in the coming years at an annual rate that’s higher than the national average.

The number of people moving to the Greater Toronto area last month may be slightly off the pace when compared to January 2010, but the city’s real estate market continues to move forward.

According to the Toronto Real Estate Board, there were 4,337 transactions for resold houses in January. That’s 13 percent lower compared to this same time last year, but January 2010 was a record month for housing and demand for storage units in Toronto.

“While off the record pace experience a year ago, the GTA resale market has started the year on a solid footing,” said Bill Johnston, president of the Toronto Real Estate Board. “Home buyers in Toronto and surrounding areas continue to benefit from a diversity of housing types for sale at many different price points.”

The report says that the average selling price for a Toronto home in January was $427,037, approximately 4 percent higher than the average price in January 2010.

The high rate of moving likely won’t let up. According to Statistics Canada, projections indicate that Ontario’s population is expected to grow in the coming years at an annual rate that’s higher than the national average.

Be Sociable, Share!
Comment

Related Articles [3]

5 Tips To Help You Downsize To A Smaller Home

December 15th, 2015
Sometimes life events bring with them the need or desire to opt for a smaller living space. Unfortunately – though not always – this entails either getting rid or moving...

Toronto home sales jump in July

August 5th, 2013
The latest report from the Toronto Real Estate Board showed that home sales in the greater Toronto area were up 16 percent in July on a year-over-year comparison, marking...

Home prices on the rise in Toronto

July 25th, 2013
A recent report from Remax Ontario-Atlantic Canada indicated that home prices in a number of Toronto neighborhoods are averaging more than $1 million.According to the report,...

Leave a Comment






Recent Posts

Blog Categories

Archives

Subscribe to RSS Feeds
Essential SSL