NEWS RELEASE 

 


GTA REALTORS® RESALE HOUSING MID-MONTH FIGURES

 

TORONTO, November 18, 2013 -- Greater Toronto Area REALTORS® reported 3,131 residential transactions through the TorontoMLS system during the first two weeks of November 2013.  This result represented a 21 per cent year-over-year increase compared to 2,582 sales reported during the same timeframe in 2012.  Over the same period, new listings were down by more than four per cent.

 

"The results for mid-November indicate that GTA households remain comfortable with the costs of home ownership," said Toronto Real Estate Board President Dianne Usher.  "If not for the persistent shortage of listings for most home types, we would likely be experiencing an even higher level of sales as more buyers would be able to make a deal on a home meeting their needs."

 

The average selling price for November 2013 mid-month transactions was $538,708, representing an 11 per cent increase compared to $485,988 in 2012.

 

"More buyers competing for a smaller number of listings has translated into an accelerating pace of price growth.  This theme has been most prevalent in the low-rise market segment, including single-detached and semi-detached houses and townhomes.  However, it is important to note that the condominium apartment market has also become tighter," said Jason Mercer, TREB's Senior Manager of Market Analysis.

 

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

 

 

Sales

Average Price

 

 

416

905

Total

416

905

Total

 

 

 

 

 

 

 

 

 

Detached

468

1,067

1,535

845,883

595,545

671,869

 

Yr./Yr. % Change

43.1%

19.5%

25.8%

11.5%

7.7%

10.5%

 

Semi-Detached

133

202

335

662,447

427,599

520,837

 

Yr./Yr. % Change

6.4%

24.7%

16.7%

10.9%

10.1%

8.6%

 

Townhouse

125

352

477

477,096

378,518

404,351

 

Yr./Yr. % Change

5.9%

20.1%

16.1%

9.3%

6.9%

7.0%

 

Condo Apartment

526

205

731

395,865

274,664

361,876

 

Yr./Yr. % Change

19.8%

15.8%

18.7%

14.1%

-0.6%

10.8%

 

 

 

 

 

 

 

 

 

 

 

 

Summary of TorontoMLS Sales and Average Price November 1 - 14

 

2013

2012

 

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

1,259

$598,924

2,049

1,025

$518,825

2,196

Rest of GTA ("905")

1,872

$498,210

2,941

1,557

$464,371

3,018

GTA

3,131

$538,708

4,990

2,582

$485,988

5,214

 

 

- 30 -