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Mar

February 2011 Real Estate Sales & Average Prices for GTA

March 3, 2011 — Greater Toronto Area (GTA) REALTORS® reported 6,266 residential resale homes & condos sold through the TorontoMLS® system in February 2011. This result was 14% lower than the record home sales reported in February 2010.

While not representing a record, February 2011 sales were 50% higher than the number of homes and condos sold and reported in February 2009 during the recession and slightly higher than the average February sales over the previous ten years.

“Continued improvement in the GTA economy, including growth in jobs and incomes and a declining unemployment rate, has kept the demand for ownership housing strong,” said Toronto Real Estate Board (TREB) President Bill Johnston.

The average selling price for homes and condos in February 2011 was $454,423, up 5% from the average selling price reported in February 2010.

February 2011 Sales & Average price by home type

“Market conditions remain quite tight in the GTA. There is enough competition between home buyers to promote continued price growth,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
Ryan Chelak, Real Estate Broker -Oakville & Mississauga Real Estate, Homes & CondosIf you are thinking of buying or selling a home or condo in Oakville, take advantage of the boutique real estate services & condominium experience I can provide you or your friends & family.

Visit my website for a free no-obligation real estate market evaluation or email me today!

Category: Residential Real Estate
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