NEWS RELEASE 

 


GTA REALTORS® Release Mid-Month Resale Housing Figures

 

May 16, 2013 -- Greater Toronto Area REALTORS® reported 4,476 transactions through the TorontoMLS system during the first 14 days of May.  This result represented a decline of 9.7 per cent compared to the same period in 2012.  Sales declines were larger for the City of Toronto, at 11.4 per cent, versus the surrounding regions where sales were down by 8.6 per cent year-over-year.

 

“Despite fewer sales this year compared to last, competition between buyers in most segments of the market remained strong enough to promote annual rates of price growth above the rate of inflation.  A household earning the average income in the GTA can comfortably afford the mortgage payments associated with the purchase of an average priced home,” said Toronto Real Estate Board President Ann Hannah.

 

The average selling price during the first two weeks of May was $543,838 – up by 5.4 per cent in comparison to the same time frame last year.  Price growth was strongest for low-rise home types, but positive price growth for condo apartments in the City of Toronto was also reported.

 

“Continuing the prevailing trend over the last year, the low-rise segment of the market drove overall price growth during the first half of May, as months of inventory remained below historic norms for key home types,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 

Summary of TorontoMLS Sales and Average Price - May 1 - 14

2013

2012

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

1,685

$594,789

3,499

1,901

$573,137

3,767

Rest of GTA ("905")

2,791

$513,077

5,661

3,054

$480,578

5,089

GTA

4,476

$543,838

9,160

4,955

$516,089

8,856

 

TorontoMLS Sales & Average Price  By Home Type - May 1 - 14, 2013

 

Sales

Average Price

 

416

905

Total

416

905

Total

 

Detached

626

1,618

2,244

855,334

615,563

682,451

 

Yr./Yr. % Change

-6.7%

-7.8%

-7.5%

2.0%

7.5%

5.6%

 

Semi-Detached

202

302

504

630,984

414,835

501,466

 

Yr./Yr. % Change

-6.0%

-7.6%

-7.0%

5.5%

3.2%

4.5%

 

Townhouse

181

511

692

457,666

384,298

403,489

 

Yr./Yr. % Change

-21.3%

-9.6%

-13.0%

-2.3%

7.1%

3.3%

 

Condo Apartment

661

281

942

377,341

285,851

350,050

 

Yr./Yr. % Change

-13.6%

-11.6%

-13.0%

2.1%

-1.4%

1.1%

 

 

 

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