NEWS RELEASE 

 


GTA REALTORS® Release Monthly Resale Housing Figures

 

TORONTO, January 4, 2013 -- Greater Toronto Area REALTORS® reported 3,690 sales through the TorontoMLS system in December 2012 – down from 4,585 sales in December 2011.  Total sales for 2012 amounted to 85,731 – down from 89,096 transactions in 2011.

  “The number of transactions in 2012 was quite strong from a historic perspective.  We saw strong year-over-year growth in sales in the first half of the year, but this growth was more than offset by sales declines in the second half.  Stricter mortgage lending guidelines resulted in some households postponing their purchase of a home.  In the City of Toronto, the dip in sales was compounded by the additional Land Transfer Tax, which buyers must pay upfront,” said Toronto Real Estate Board (TREB) President Ann Hannah.

  The average selling price in December 2012 was up by 6.5 per cent year-over-year to $478,739.  The average selling price for 2012 as a whole was up by almost seven per cent to $497,298.

  “Robust annual rates of price growth were reported through most months of 2012.  Price growth was strongest for low-rise homes, including singles, semis and townhouses.  Despite a dip in sales, market conditions remained tight for these home types with substantial competition between buyers,” said TREB’s Senior Manager of Market Analysis Jason Mercer.
   

 

 

Summary of TorontoMLS Sales and Average Price

 

 

 

 

 

 

 

December 1 - 31

2012

2011

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

1,470

$494,127

1,679

1,905

$473,169

2,015

Rest of GTA ("905")

2,220

$468,549

2,616

2,680

$432,789

2,759

GTA

3,690

$478,739

4,295

4,585

$449,566

4,774




TorontoMLS Sales & Average Price  By Home Type

 

 

 

 

 

 

 

December 1 - 31, 2012

Sales

Average Price

416

905

Total

416

905

Total

Detached

491

1,254

1,745

722,393

565,544

609,678

Yr./Yr. % Change

-12.3%

-13.6%

-13.2%

2.4%

8.1%

6.2%

Semi-Detached

129

242

371

556,260

385,723

445,020

Yr./Yr. % Change

-35.2%

-15.4%

-23.5%

7.4%

5.6%

4.0%

Townhouse

154

423

577

392,590

347,897

359,825

Yr./Yr. % Change

-20.2%

-15.2%

-16.6%

5.2%

5.2%

5.1%

Condo Apartment

680

263

943

342,847

281,458

325,726

Yr./Yr. % Change

-26.9%

-26.3%

-26.7%

-1.8%

2.1%

-0.9%

 

 

 

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