NEWS RELEASE 

 


GTA REALTORS® RELEASE MID-MONTH RESALE FIGURES

 

October 16, 2012 -- Greater Toronto Area REALTORS® reported 2,961 sales through the TorontoMLS system during the first 14 days of October 2012.  The number of transactions was down by 10.5 per cent compared to the same period in 2011.  New listings were up by 5.5 per cent year-over-year to 6,505.

 

“Some households have put their home purchase plans on hold in response to the higher cost of home ownership brought about by the recent changes to mortgage lending guidelines.  Both first-time buyers and existing home owners have been affected, given that sales were down across house types and geography,” said Toronto Real Estate Board (TREB) President Ann Hannah.

 

The average selling price for sales reported from October 1 through October 14 was $501,146 – up by almost six per cent in comparison to last year.

 

“The average selling price grew well above the rate of inflation in the first half of October due to relatively tight market conditions from a historic perspective.  However, the market continued to become better supplied, pointing toward a slower pace of price growth as we move into 2013,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 

Summary of TorontoMLS Sales and Average Price October 1 - 14

2012

2011

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

1,157

$537,296

2,782

1,345

$523,731

2,508

Rest of GTA ("905")

1,804

$477,961

3,723

1,965

$439,766

3,659

GTA

2,961

$501,146

6,505

3,310

$473,884

6,167

TorontoMLS Sales & Average Price  By Home Type October 1 - 14, 2012

 

Sales

Average Price

 

416

905

Total

416

905

Total

 

 

Detached

407

1,047

1,454

774,595

570,317

627,498

 

Yr./Yr. % Change

-3%

-3%

-3%

3%

8%

6%

 

Semi-Detached

139

190

329

573,242

390,706

467,826

 

Yr./Yr. % Change

-19%

-19%

-19%

4%

7%

5%

 

Townhouse

117

345

462

435,920

356,879

376,896

 

Yr./Yr. % Change

-18%

-4%

-8%

-7%

4%

0%

 

Condo Apartment

488

183

671

356,312

282,361

336,143

 

Yr./Yr. % Change

-18%

-25%

-20%

-4%

4%

-2%

 

 

 

 

 

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