GTA REALTORS® RELEASE JANUARY RESALE MARKET FIGURES

TORONTO, February 3, 2012 – Greater Toronto REALTORS® reported 4,567 sales through the TorontoMLS® system in January 2012. This number was 8.8 per cent higher than the 4,199 sales reported in January 2011. Sales growth was strongest for low-rise home types in the regions surrounding the City of Toronto.

"A favourable affordability picture bolstered by very low posted fixed mortgage rates has kept home buyers confident in their ability to achieve the Canadian goal of home ownership," said Toronto Real Estate Board President Richard Silver. "The buyer pool remains diverse in the GTA with strong interest in home types across the pricing spectrum," continued Silver.

The average selling price for January 2012 transactions was $463,534 – up by almost nine per cent compared to January 2011.

"Low inventory levels have kept competition between buyers strong, resulting in robust annual rates of price growth over the last year. Strong price growth is expected to attract more listings. A better supplied market should result in a slower rate of price growth, especially in the second half of 2012," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis.

• REALTORS® reported 4,567 MLS transactions in January - up 8.9% from January 2011.

• There were 9,655 new listings in January, up 8% from January 2011.

• The average price for January transactions was $463,534 - up by 8.9 per cent compared to the same month last year.

• The average Days on Market (DOM) for January decreased 9.9%  from 36 to 32.

Under the Scope: C03 (Forest Hill South, Cedarvale-Humewood, Oakwood-Vaughan, Yonge-Eglinton)

Under the Scope: C04 (Forest Hill North, Lawrence Park North and South, Bedford Park-Nortown, Englemount-Lawrence)

Under the Scope: C06 (Clanton Park, Bathurst Manor)

Under the Scope: C10 (Mount Pleasant West and East)

Under the Scope: C12 (St. Andrew-Windfields, Bridle Path-Sunnybrook-York Mills )