June 2013 Resale Home Sales

Greater Toronto Area REALTORS® reported 9,061 sales through the TorontoMLS system in June 2013 – down by less than one per cent compared to June 2012. Over the same period, new listings were down by a greater rate than sales, suggesting market conditions became tighter.


"The sales picture in the GTA improved markedly in the second quarter of 2013. While the number of transactions was still down compared to 2012, rates of decline were substantially improved compared to the first quarter," said Toronto Real Estate Board President Dianne Usher.


"As a growing number of homebuyers, many of whom put their purchase on hold due to stricter lending guidelines, now reactivate their search, the expectation is for renewed growth in home sales in the second half of 2013," added Ms. Usher.


The average selling price in June was up by 4.7 per cent year-over-year to $531,374. In line with the 2013 norm, June price growth was driven by the single-detached and semi-detached market segments, particularly in the City of Toronto. Over the same time period, average condominium apartment selling prices remained in line with 2012 levels.


"The short supply of low-rise home types in many parts of the GTA relative to the number of households looking to buy continued to prompt strong upward pressure on selling prices of singles and semis," said Jason Mercer, TREB's Senior Manager of Market Analysis. "We have also seen enough buyers in the better-supplied condo apartment market to provide support for selling prices at current levels."

    2013     2012  
  Sales Average Price New Listings Sales Average Price New Listings
Sales City of Toronto ("416") 3,265 $578,575 5,913 3435 $553,417 6,697
Rest of GTA ("905") 5,796 $504,784 9,651 5694 $479,546 9,885
GTA 9,061 $531,374 15,564 9,129 $507,342 16,582
             
             
Detached 2013 Sales VYA   Average Price VYA  
Sales City of Toronto ("416") 1137 -6.9%   $866,326 8.1%  
Rest of GTA ("905") 3411 3.2%   $598,708 4.9%  
GTA 4548 0.5%   $665,613 5.2%  
             
Semi-Detached 2013 Sales VYA   Average Price VYA  
Sales City of Toronto ("416") 380 -3.1%   $618,194 9.5%  
Rest of GTA ("905") 623 0.8%   $411,877 3.7%  
GTA 1003 -0.7%   $490,043 6.0%  
             
Townhouse 2013 Sales VYA   Average Price VYA  
Sales City of Toronto ("416") 379 -5.3%   $443,126 -1.6%  
Rest of GTA ("905") 1054 0.9%   $378,264 6.0%  
GTA 1433 -0.8%   $395,418 3.3%  
             
Condo Apartment 2013 Sales VYA   Average Price VYA  
Sales City of Toronto ("416") 1329 0.3%   $366,532 0.3%  
Rest of GTA ("905") 556 0.9%   $288,604 0.9%  
GTA 1885 0.4%   $343,546 0.4%  


Source: TREB

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Donald Lum

Donald Lum

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CENTURY 21 Leading Edge Realty Inc., Brokerage*
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