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NEWS RELEASE |
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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 |
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Sales |
Average Price |
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416 |
905 |
Total |
416 |
905 |
Total |
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Detached |
468 |
1,067 |
1,535 |
845,883 |
595,545 |
671,869 |
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Yr./Yr. % Change |
43.1% |
19.5% |
25.8% |
11.5% |
7.7% |
10.5% |
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Semi-Detached |
133 |
202 |
335 |
662,447 |
427,599 |
520,837 |
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Yr./Yr. % Change |
6.4% |
24.7% |
16.7% |
10.9% |
10.1% |
8.6% |
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Townhouse |
125 |
352 |
477 |
477,096 |
378,518 |
404,351 |
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Yr./Yr. % Change |
5.9% |
20.1% |
16.1% |
9.3% |
6.9% |
7.0% |
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Condo Apartment |
526 |
205 |
731 |
395,865 |
274,664 |
361,876 |
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Yr./Yr. % Change |
19.8% |
15.8% |
18.7% |
14.1% |
-0.6% |
10.8% |
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Summary of TorontoMLS Sales and Average Price November 1 - 14 |
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2013 |
2012 |
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Sales |
Average Price |
New Listings |
Sales |
Average Price |
New Listings |
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City of Toronto ("416") |
1,259 |
$598,924 |
2,049 |
1,025 |
$518,825 |
2,196 |
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Rest of GTA ("905") |
1,872 |
$498,210 |
2,941 |
1,557 |
$464,371 |
3,018 |
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GTA |
3,131 |
$538,708 |
4,990 |
2,582 |
$485,988 |
5,214 |
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