Mid June 2013 Resale Home Sales

Greater Toronto Area REALTORS® reported 4,620 sales through the TorontoMLS system during the first two weeks of June 2013. This result was up by 4.7 per cent compared to the first two weeks of June 2012. Year-over-year sales growth was driven by the regions/counties surrounding the City of Toronto. Home sales in the City were basically flat in comparison to last year.


“The expectation was for an improvement in home sales in the second half of 2013. Early June results are in line with this outlook. Many households have adapted to stricter lending guidelines and have renewed their search for ownership housing,” said Toronto Real Estate Board President Ann Hannah.


“It is also important to note that new listings were down over the same period. With sales up and new listings down, market conditions became tighter. This supports the moderate to strong rates of price growth reported for most major home types, including condominium apartments,” added Ms. Hannah.


The average selling price for the first fourteen days of June was $536,141 – up by 3.8 per cent compared to June 2012. “While price growth has been driven by low-rise home types this year, condominium apartment price growth has improved since March. Despite higher inventory levels, there have been enough buyers relative to available listings to support condo price appreciation,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

    2013     2012  
  Sales Average Price New Listings Sales Average Price New Listings
Sales City of Toronto ("416") 1,636 $590,468 3,153 1644 $566,789 3,370
Rest of GTA ("905") 2,984 $506,356 5,108 2768 $486,557 4,970
GTA 4,620 $536,141 8,261 4,412 $516,453 8,340
             
             
Detached 2013 Sales VYA   Average Price VYA  
Sales City of Toronto ("416") 577 -4.0%   $877,384 7.0%  
Rest of GTA ("905") 1759 8.5%   $601,995 3.8%  
GTA 2336 5.1%   $670,017 3.9%  
             
Semi-Detached 2013 Sales VYA   Average Price VYA  
Sales City of Toronto ("416") 197 13.9%   $631,667 10.3%  
Rest of GTA ("905") 317 12.4%   $410,751 4.8%  
GTA 514 13.0%   $495,421 7.6%  
             
Townhouse 2013 Sales VYA   Average Price VYA  
Sales City of Toronto ("416") 182 -12.9%   $449,346 -2.8%  
Rest of GTA ("905") 548 10.5%   $378,265 3.4%  
GTA 730 3.5%   $395,986 0.4%  
             
Condo Apartment 2013 Sales VYA   Average Price VYA  
Sales City of Toronto ("416") 662 2.2%   $374,421 1.8%  
Rest of GTA ("905") 285 1.4%   $284,608 1.2%  
GTA 947 1.9%   $347,392 1.7%  

 Source: TREB Mid June Resale

http://onlineoffice.century21.ca/PublicStorage.c?ID=7683acea-06ff-4f3c-9f3a-275c24d7faf8

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