Mid December 2013 Resale Home Sales

Greater Toronto Area REALTORS® reported 2,483 residential sales through the TorontoMLS system during the first two weeks of December 2013. This number of transactions represented an 18 per cent increase compared to 2,104 sales reported during the same period in 2012. The number of new listings entered into the TorontoMLS system was basically unchanged from a year ago.

“The key story in the GTA housing market continues to surround the availability of listings, or lack thereof. With the cost of homeownership remaining affordable, we have seen a resurgence in buying activity in the second half of 2013. However, growth in listings has not matched growth in sales. The result has been more buyers competing for fewer listings. This is why we continue to experience strong price growth,” said Toronto Real Estate Board President Dianne Usher.

The average selling price for December mid-month transactions was up 10 per cent to $520,379, compared to $471,602 reported for the first 14 days of December 2012.

“Inventory levels will remain low in many parts of the GTA in 2014, especially where low-rise home types are concerned, including single-detached and semi-detached houses and townhomes. Expect above- inflation price growth to continue next year,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.

Source: TREB

    2013     2012  
  Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 954 $533,843 1,226 861 $489,922 1,151
Rest of GTA ("905") 1,529 $511,978 1,710 1243 $458,912 1,790
GTA 2,483 $520,379 2,936 2,104 $471,602 2,941
             
             
Detached 2013 Sales VYA   Average Price VYA  
City of Toronto ("416") 287 -4.0%   $804,830 15.4%  
Rest of GTA ("905") 834 20.9%   $633,549 14.7%  
GTA 1121 13.3%   $677,401 13.6%  
             
Semi-Detached 2013 Sales VYA   Average Price VYA  
City of Toronto ("416") 90 13.9%   $647,314 19.4%  
Rest of GTA ("905") 150 10.3%   $410,425 7.3%  
GTA 240 11.6%   $499,258 13.2%  
             
Townhouse 2013 Sales VYA   Average Price VYA  
City of Toronto ("416") 106 17.8%   $444,378 8.3%  
Rest of GTA ("905") 293 19.6%   $387,674 12.2%  
GTA 399 19.1%   $402,738 11.0%  
             
Condo Apartment 2013 Sales VYA   Average Price VYA  
City of Toronto ("416") 454 18.5%   $365,559 7.9%  
Rest of GTA ("905") 216 43.0%   $291,496 1.7%  
GTA 670 25.5%   $341,682 5.4%

 

 

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Donald Lum

Donald Lum

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
Contact Me