Market Update – January 2011 in Review

The real estate statistics were published today, showing that there were 4,337 residential transactions in the Greater Toronto area in the month of January 2011. The average price was $427,037, representing a 4.4% year-over-year rise in value. The average price was down 1.6% from the December 2010 results.

Speaking with other Realtors, the concensus is that there is a real lack of good homes on the market right now. It can be a terrific time to sell your home right now. Homes priced right have a good opportunity to sell for a high price with multiple offers. There is no shortage of buyers out looking for the right place for them!

RE/MAX continues to call for modest growth in the Toronto real estate market for the year ahead.

I’d be happy to educate you more fully on the market and explain how I assist people looking to sell their home or buy a home in 2011.

Here’s a summary chart of the past 20-month’s of Toronto Real Estate…

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