The Dalinda Report, March 2012

TORONTO – Tuesday, March 6, 2012

February 2012

The month of February had proved exceptionally strong for Toronto’s real estate resale market, which had resulted in continued record-setting sales, as the Toronto Real Estate Board had reported 7,032 sales of single-family dwellings in February 2012.

Total sales were up by 16% from the 6,058 sales that had been recorded in February 2011, and total sales had increased by 53% from the 4,567 sales that had been recorded in January 2012.

The February average price had crossed the $500,000 mark!

The average price in February 2012 had increased by 8.4% to $502,508 from $463,534 in January 2012. The February 2012 average price had increased by 11% from the February 2011 average price of $453,329. The 2011 year-end cumulative average price had totaled $465,412.

Active listings had increased by 32%.

The number of active listings in February 2012 had increased by 32% to 14,546 from the 11,009 active listings in January 2012 and had increased by 0.1% from the 14,525 active listings in February 2011.

The W07 average price had totaled $789,773.

Home sales of detached houses in the W07 west district, which geographically represents Sunnylea, Thomson Orchard, and Spring Garden Park, had increased to 18 sales in February 2012 from 10 sales in January 2012. The average detached home price in this district had totaled $789,773 in February 2012, which had increased by 1.8% from $775,800 in January 2012, while the median price in February 2012 had equaled $711,000, which had been up from $656,500 in January 2012.

The W08 average price had totaled $900,989.

Home sales of detached houses in the W08 west district, which geographically represents Edenbridge, Humber Valley, North Drive, and The Kingsway, had increased to 60 sales in February 2012 from 32 sales in January 2012. The average detached home price in this district had totaled $900,989 in February 2012, which had increased by 16.3% from $774,563 in January 2012, while the median price in February 2012 had equaled $783,466, which had been up from $690,000 in January 2012.

The W01 average price had totaled $936,150.

Home sales of detached houses in the W01 west district, which geographically represents Riverside Drive, Brule Gardens, and South Kingsway, had increased to 10 sales in February 2012 from 4 sales in January 2012. The average detached home price in this district had totaled $936,150 in February 2012, which had increased by 15.5% from $810,500 in January 2012, while the median price in February 2012 had equaled $820,000, which had been up from $741,250 in January 2012.