GTA sales strong so far

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The year has got off to strong start in the Greater Toronto Area according to data from GTA Realtors. It reports that there were 4,355 home sales through the MLS system in January, a 6.1 per cent increase year-over-year. New listings over the year have increased by 9.5 per cent and the average selling price was up by 4.9 per cent to $552,575. The Toronto Real Estate Board predicts that prices will continue to rise this year but will be mitigated by lower borrowing costs. Director of Analysis Jason Mercer says:  The strongest rates of price growth will be experienced for low-rise home types, including singles, semis and town houses. However, robust end-user demand for condo apartments will result in above-inflation price growth in the high-rise segment as well.”
 
  • Danny on 2015-02-04 4:39:55 PM

    I drive around the city and I hardly see any listing signs. How is it possible that sales is up? This sounds like a bad joke or cheap lie.

  • John S. on 2015-02-04 4:53:41 PM

    I know, whenever I hear words like "robust end user demand of condos" usually it means that the demand is low and sales is stagnant.

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