There were 4,375 transactions reported to the TorontoMLS system in January 2013; a slight decline compared to the 4,432 reported in January 2012. The average sale price was $482,648 - up by 4.3% compared to the same time period last year.
"The January sales figures represent a good start to 2013. While the number of transactions was down slightly compared to last year, the rate of decline was much less than what was experienced in the second half of 2012. This suggests that some buyers, who put their decision on hold last year due to stricter mortgage lending guidelines, are once again active in the market," said Toronto Real Estate Board President Ann Hannah. "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," added Ms. Hannah.