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December 2013 Resale Home Sales

According to the most recent TREB report, Greater Toronto Area REALTORS® reported 4,078 residential transactions through the Toronto MLS system in December 2013 – up by almost 14 per cent compared to 3,582 sales reported in December 2012. New listings entered into the Toronto MLS system were down by almost four per cent over the same period.

Total sales for calendar year 2013, at 87,111, were up by approximately two per cent compared to 85,496 transactions in calendar year 2012.

“After a slow start to the year, sales growth accelerated to a brisk pace in the second half of 2013. Despite the inclement weather in December, we finished the year with a respectable gain in transactions compared to 2012. Looking forward, I believe that home ownership in the GTA will remain affordable as borrowing costs stay low. The result could be a further increase in sales in 2014,” said Toronto Real Estate Board President Dianne Usher.

“The average selling price will be up again in 2014 and by more than the rate of inflation. The seller’s market conditions that drove price growth in the second half of 2013 will remain in place in many parts of the GTA. Some neighbourhoods, especially those characterized by low-rise home types like singles, semis and townhomes, will continue to have less than two months of inventory,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

The average selling price for December 2013 sales was $520,398 – up by 8.9 per cent compared to the average of $477,756 in December 2012.

The average selling price for 2013 as a whole was $523,036, which represented an increase of 5.2 per cent compared to the calendar year 2012 average of $497,130.

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2013

2012

Sales

Average Price

New Listings

Sales

Average Price

New Listings

Sales City of Toronto ("416")

1,574

$541,771

1,703

1433

$494,941

1,671

Rest of GTA ("905")

2,504

$506,963

2,399

2,149

$466,297

2,596

GTA

4,078

$520,398

4,102

3,582

$477,756

4,267

Detached 2013

Sales

VYA

Average Price

VYA

Sales City of Toronto ("416")

447

-6.7%

$864,351

18.9%

Rest of GTA ("905")

1360

12.6%

$627,097

11.4%

GTA

1807

7.1%

$685,787

12.5%

Semi-Detached 2013

Sales

VYA

Average Price

VYA

Sales City of Toronto ("416")

136

8.8%

$644,423

15.9%

Rest of GTA ("905")

232

-0.9%

$411,857

6.6%

GTA

368

2.5%

$497,805

11.8%

Townhouse 2013

Sales

VYA

Average Price

VYA

Sales City of Toronto ("416")

172

13.2%

$447,188

13.4%

Rest of GTA ("905")

479

15.4%

$384,095

10.3%

GTA

651

14.8%

$400,765

11.2%

Condo Apartment 2013

Sales

VYA

Average Price

VYA

Sales City of Toronto ("416")

799

20.7%

$367,376

7.6%

Rest of GTA ("905")

374

46.1%

$293,883

4.6%

GTA

1173

27.8%

$343,943

6.0%

Source: Market Watch Monthly News Release

Posted by Henry L Lam on January 6, 2014

Tags: Market Reports and Conditions

 

HenryL Lam

HenryL Lam

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