GTA REALTORS® Release Mid-Month Resale Housing Figures for July

 

The average selling price for the first 14 days of July was $510,819 – up by 8.1 per cent compared to $472,632 in the first half of July 2012. 

Greater Toronto Area REALTORS® reported 3,603 residential sales through the TorontoMLS system during the first 14 days of July.  This result represented a moderate increase of 2.2 per cent compared to the same period in 2012.  Over the same time frame, the number of new listings entered into TorontoMLS was down by two per cent.

“The second half of 2013 began with tighter market conditions in the GTA housing market.  With sales up and new listings down, it makes sense that the annual rate of price growth accelerated.  This was especially the case for single-detached and semi-detached homes in the City of Toronto, which remained in very short supply,” said Toronto Real Estate Board President Dianne Usher.

The average selling price for the first 14 days of July was $510,819 – up by 8.1 per cent compared to $472,632 in the first half of July 2012.  The strongest year-over-year increases were experienced in the single-detached and semi-detached market segments in the City of Toronto with growth rates of 10.7 and 14.1 per cent respectively.  The condominium apartment segment continued to experience moderate average price growth.   

“Expect a faster pace of average price growth in the second half of 2013 compared to the first six months of the year.  The strong demand and shortage of listings for low-rise home types in some neighbourhoods will continue to be the driver of price growth.  An improvement in conditions in the condominium apartment market will also have a positive impact,” said Jason Mercer, TREB’s Senior Manager of Market Analysis

 
For information about Buyer Representation Agreements (BRA) visit samirsafadi.com

Greater Toronto Area open house listings are available on http://www.realestatesnatch.com/p/open-house-listings.html
 
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,
 
 
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.   

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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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