TREB Market Watch Report for Dec 2012

Average Home Price Up Strongly in 2012

TORONTO, January 4, 2013 – Greater Toronto Area REALTORS® reported 3,690 sales through the TorontoMLS system in December 2012 – down from 4,585 sales in December 2011. Total sales for 2012 amounted to 85,731 – down from 89,096 transactions in 2011.

The average selling price in December 2012 was up by 6.5 per cent year-overyear to $478,739. The average selling price for 2012 as a whole was up by almost seven per cent to $497,298.

“Robust annual rates of price growth were reported through most months of 2012. Price growth was strongest for low-rise homes, including singles, semis and townhouses. Despite a dip in sales, market conditions remained tight for these home types with substantial competition between buyers,” said TREB’s Senior Manager of Market Analysis Jason Mercer.

Source: TREB Market News

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Janet Chau

Janet Chau

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CENTURY 21 Leading Edge Realty Inc., Brokerage*
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