NEWS RELEASE 

  


GTA REALTORS® Release Mid-Month Resale Housing Figures

 

October 16, 2013 -- Greater Toronto Area REALTORS® reported 3,460 sales through the TorontoMLS system during the first 14 days of October 2013.  This result was up by 21 per cent in comparison to 2,849 sales reported during the same period in 2012.  October mid-month sales were also up by 13 per cent compared to the 10-year average.

 

“With October mid-month sales well-above the 10-year average, it seems clear that we have more than recovered from the temporary dip in residential transactions that resulted from the onset of stricter mortgage lending guidelines,” said Toronto Real Estate Board President Dianne Usher.

 

“It is also important to note that the supply of ground-oriented listings remains constrained, due in part to the additional land transfer tax and stricter lending guidelines.  If this were not the case, the number of sales could have been greater because more households would have been able find a home to purchase,” continued Ms. Usher.

 

The average selling price for October mid-month transactions was $536,301 – up 7.3 per cent compared to the first 14 days of October 2012.

 

“Price growth has been stronger in the second half of 2013, as sales growth has outstripped growth in listings.  There have been more buyers competing for available properties compared to the first half of the year, which has led to increased upward pressure on average selling prices,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.

 


Summary of TorontoMLS Sales and Average Price

 

 

 

 

 

 

 

October 1 - 14

2013

2012

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

1,381

$589,828

2,286

1,118

$535,058

2,764

Rest of GTA ("905")

2,079

$500,745

3,522

1,731

$476,823

3,707

GTA

3,460

$536,301

5,808

2,849

$499,675

6,471

 

TorontoMLS Sales & Average Price  By Home Type

 

 

 

 

 

 

 

October 1 - 14, 2013

Sales

Average Price

416

905

Total

416

905

Total

Detached

502

1,181

1,683

840,396

603,149

673,915

Yr./Yr. % Change

28.7%

18.1%

21.1%

8.2%

6.0%

7.4%

Semi-Detached

140

211

351

630,760

413,586

500,208

Yr./Yr. % Change

5.3%

15.9%

11.4%

10.4%

5.1%

6.7%

Townhouse

142

401

543

498,480

367,660

401,871

Yr./Yr. % Change

24.6%

20.8%

21.7%

14.4%

3.4%

6.9%

Condo Apartment

582

236

818

391,180

314,109

368,945

Yr./Yr. % Change

22.0%

31.8%

24.7%

10.7%

11.0%

10.4%

 

 

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