TREB reported 3594 resale homes in the first two weeks of March 2013. This figure was down 11.5 % from a year ago. GTA Sales declined in March for all resale home segments in both the “416” (-13.3%) and the “905” (-10.4%).
Average Prices for the GTA increased 5.8% mainly behind continued low-rise price growth. Average Prices for all resale home segments increased.
Condo Apartment Average Prices in the “416” increased 1.9% and in the “905” were flat at 0.2%. Average Prices for Detached and Townhouses in the GTA increased 7.2%. Semi-Detached GTA Average Prices increased 5.7% behind strong increases in the “416” (12.2%).
Low Rise buyers continue to have less choice as the number of new listing increased by less than 2% during the first two weeks of March. According to TREB’s Senior Manager of Market Analysis, Jason Mercer, “the average annual rate of price growth for Singles, Semis and Towns continues to far outpace the rate of inflation.” TREB’s 2013 Average Price forecast is $515,000 (3.5%).