According the Toronto Real Estate Board president Anne Hannah, there were 4,375 transactions through the TorontoMLS system in January 2013 down slightly from 4,432 transactions reported in January 2012. The interesting news here is that the rate of decline was was lower than what was reported for the second half of 2012 suggesting that buyers are coming back to the market.
"It is interesting to note that sales were up for many home types in the GTA regions surrounding the City of Toronto. This is due, at least in part, to the additional upfront land transfer tax in the City of Toronto," added Ms. Hannah.
The average selling price for January 2013 sales was $482,648 – up by 4.3 per cent compared to $462,655 in January 2012. The MLS® Home Price Index (HPI) Composite Benchmark price was up by 3.8 per cent over the same period.Click here to read the entire report along with the supporting data.