NEWS RELEASE 

 


GTA REALTORS® Release Mid-Month Resale Housing Figures

 

July 16, 2013 -- Greater Toronto Area REALTORS® reported 3,603 residential sales through the TorontoMLS system during the first 14 days of July.  This result represented a moderate increase of 2.2 per cent compared to the same period in 2012.  Over the same time frame, the number of new listings entered into TorontoMLS was down by two per cent.

 

“The second half of 2013 began with tighter market conditions in the GTA housing market.  With sales up and new listings down, it makes sense that the annual rate of price growth accelerated.  This was especially the case for single-detached and semi-detached homes in the City of Toronto, which remained in very short supply,” said Toronto Real Estate Board President Dianne Usher.

 

The average selling price for the first 14 days of July was $510,819 – up by 8.1 per cent compared to $472,632 in the first half of July 2012.  The strongest year-over-year increases were experienced in the single-detached and semi-detached market segments in the City of Toronto with growth rates of 10.7 and 14.1 per cent respectively.  The condominium apartment segment continued to experience moderate average price growth.

 

“Expect a faster pace of average price growth in the second half of 2013 compared to the first six months of the year.  The strong demand and shortage of listings for low-rise home types in some neighbourhoods will continue to be the driver of price growth.  An improvement in conditions in the condominium apartment market will also have a positive impact,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 

Summary of TorontoMLS Sales and Average Price July 1 - 14

2013

2012

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

1,289

$527,885

2,591

1,255

$493,636

2,804

Rest of GTA ("905")

2,314

$501,312

4,124

2,271

$461,025

4,050

GTA

3,603

$510,819

6,715

3,526

$472,632

6,854

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

 

Sales

Average Price

 

416

905

Total

416

905

Total

 

 

Detached

390

1,328

1,718

796,182

599,483

644,135

 

Yr./Yr. % Change

-2.5%

6.9%

4.6%

10.7%

8.7%

8.8%

 

Semi-Detached

152

260

412

591,071

417,856

481,761

 

Yr./Yr. % Change

20.6%

1.6%

7.9%

14.1%

7.9%

11.9%

 

Townhouse

142

431

573

444,272

374,131

391,513

 

Yr./Yr. % Change

0.0%

-9.5%

-7.3%

6.1%

3.8%

4.7%

 

Condo Apartment

595

228

823

356,920

285,058

337,012

 

Yr./Yr. % Change

3.7%

-1.3%

2.2%

1.6%

3.0%

2.2%

 


TorontoMLS Sales & Average Price  By Home Type June 1 – 14, 2013

 

 

 

 

 

 

 

Sales

Average Price

416

905

Total

416

905

Total

Detached

577

1,759

2,336

877,384

601,995

670,017

Yr./Yr. % Change

-4.0%

8.5%

5.1%

7.0%

3.8%

3.9%

Semi-Detached

197

317

514

631,667

410,751

495,421

Yr./Yr. % Change

13.9%

12.4%

13.0%

10.3%

4.8%

7.6%

Townhouse

182

548

730

449,346

378,265

395,986

Yr./Yr. % Change

-12.9%

10.5%

3.5%

-2.8%

3.4%

0.4%

Condo Apartment

662

285

947

374,421

284,608

347,392

Yr./Yr. % Change

2.2%

1.4%

1.9%

1.8%

1.2%

1.7%

 

 

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