February 2013 - Mid month statistics

Every month and mid-month the Toronto Real Estate Board releases information about how the market is performing in relation to the same time the previous year.  The intent is to give a seasonal comparison rather than a month by month comparision.

The latest report (found here) tells a similar story as we have been hearing for several years now, demand for homes in Toronto is still strong in relation to the number of homes listed for sale.  We are seeing fewer homes being listed for sale but the number or ratio of homes being sold is relatively the same which has an upward pressure on prices.   Below we see the statistics showing that the Sales to List Ratio (SLR) shows that in spite of fewer homes being listed approximately the same percentage of these homes sold leaving us in what is referred to as a 'Balanced Market'.  In contrast the other two types of markets are Sellers Market, which we saw previously with buyers bidding on homes, and Buyers Market where buyers are able to influence price, often downward.

The interesting information here is the disparity between condo, detached and townhouse data.  In the chart at the bottom we see sales of condos sales volumes and prices dropping, in contract townhouse sales volumes and prices are rising!  As noted earlier, detatched home sales volume is down but prices are up. 

As always, real estate is a local matter and these averages can differ depending on the area, be sure to check with me for information on the area's you are most interested in.

Summary of Toronto MLS Sales & Average Price: Feb 1-14, 2013

                     2013                                                                2012                     
   Sales    Avg. Price New Listings  SLR     Sales    Avg. Price New Listings SLR 
City of Toronto ("416")    1,087 $555,423 2,196 49%      1,169 $540,246 2,465 47%
Rest of GTA ("905") 1,736 $480,030 3,323 52%    1,910 $458,071  3,540   54%
GTA 2,823 $509,061 5,519 51%    3,079  $489,270  6,005  51%

 

 

 

 Toronto MLS Sales & Average Price By Home Type:  Feb 1-14, 2013

  Sales Price
  416 905 Total 416 905 Total
Detached    384    972    1,356    817,217    578,965    646,435
     Yr./Yr. % Change -4.0% -11.7% -9.7% 5.8% 5.0% 5.9%
Semi-Detached 111 175 286 625,887 399,554 487,397
     Yr./Yr. % Change -9.8% -11.2% -10.6% 5.3% 4.9% 5.3%
Townhouse 117 339 456 448,876 376,320 394,936
     Yr./Yr. % Change 17.0% 1.8% 5.3% 15.9% 10.1% 12.1%
Condo Apartment 458 213 671 355,666 275,950 330,361
     Yr./Yr. % Change -14.4% -11.6% -13.5% -8.4% 2.3% -6.0%

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Robert Atkinson

Robert Atkinson

REALTORĀ®
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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