GTA REALTORS® Release Monthly Resale Housing Figures [Video]

 
Greater Toronto Area (GTA) REALTORS® reported 5,759 sales through the Toronto MLS system in February 2013 – a decline of 15 per cent in comparison to February 2012.

Greater Toronto Area (GTA) REALTORS® reported 5,759 sales through the Toronto MLS system in February 2013 – a decline of 15 per cent in comparison to February 2012. It should be noted that 2012 was a leap year with one extra day in February. A 28 day year-over-year sales comparison resulted in a lesser decline of 10.5 per cent.       

REALATED ARTICLE: Toronto Real Estate: Home Sales See 15 Per Cent Drop From Year Ago
 
The average selling price for February 2013 was $510,580 – up two per cent in comparison to February 2012.

“The share of sales and dollar volume accounted for by luxury detached homes in the City of Toronto was lower this February compared to last.  This contributed to a more modest pace of overall average price growth for the GTA as a whole,” said Toronto Real Estate Board (TREB) President Ann Hannah.

“Stricter mortgage lending guidelines that precluded government backed mortgages on homes sold for over one million dollars and the City of Toronto’s additional upfront land transfer tax arguably played a role in the slower pace of luxury detached home sales,” added Ms. Hannah.

The MLS® HPI Composite Benchmark price covering all major home types eliminates fluctuations in price growth due to changes in sales mix.  The Composite Benchmark price was up by more than three per cent on a year-over-year basis in February.




“We will undoubtedly experience some volatility in price growth for some market segments in 2013.  However, months of inventory in the low-rise market segment will remain low, resulting in average price growth above three per cent for the TREB market area this year.  Our current average price forecast is $515,000 for all home types combined in 2013,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
 
Summary of Toronto MLS Sales and Average Price – FEBRUARY 2013
 
2013
2012
Sales
Average
 Price
New
Listings
Sales
Average
Price
New
Listings
City of Toronto ("416")
2,189
$552,014
4,326
2,617
$552,684
5,125
Rest of GTA ("905")
3,570
$485,174
6,726
4,192
$467,514
7,467
GTA
5,759
$510,580
11,052
6,809
$500,249
12,592
 
 
Toronto MLS Sales & Average Price  By Home Type – FEBRUARY 2013
 
Sales
Average Price
 
416
905
Total
416
905
Total
 
 
Detached
749
2,025
2,774
823,329
582,777
647,728
 
Yr./Yr. % Change
-16.9%
-15.8%
-16.1%
0.1%
3.4%
2.2%
 
Semi-Detached
234
382
616
618,777
401,981
484,335
 
Yr./Yr. % Change
-13.3%
-15.9%
-14.9%
6.2%
4.4%
5.6%
 
Townhouse
230
682
912
450,440
371,640
391,513
 
Yr./Yr. % Change
-0.4%
-5.9%
-4.6%
4.9%
7.1%
6.7%
 
Condo Apartment
953
399
1,352
352,614
281,398
331,597
 
Yr./Yr. % Change
-20.0%
-20.7%
-20.2%
-4.7%
4.3%
-2.5%
 
 
 Click here for complete Market Watch
 
Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 36,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board.
 
 
 
For Media/Public Inquiries:
Mary Gallagher,
Senior Manager Media Relations.
Toronto Real Estate Board
1400 Don Mills Road Toronto,
ON M3B 3N1,
Office: (416) 443-8158,
 
 
 

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REAL ESTATE SNATCH is the independent real estate blog of Samir Safadi, Sales Representative of West-100 Metro View Realty Ltd, brokerage it is dedicated to covering Real Estate News, digital culture, social media and technology, providing analysis of trends, Market Data , reviewing new development. Offering Real Estate services resources and guides. Services are provided to prospective buyers and sellers of real estate by Samir Safadi, Sales Representative, West-100 Metro View Realty Ltd, brokerage, duly registered in the province of Ontario, under Real Estate and Business Brokers Act, 2002 (REBBA 2002) and Member in good standing with



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