GTA REALTORS® Release Monthly Resale Housing Figures for June [Video]

The average selling price in June was up by 4.7 per cent year-over-year to $531,374. In line with the 2013 norm

Greater Toronto Area REALTORS® reported 9,061 sales through the TorontoMLS system in June 2013 – down by less than one per cent compared to June 2012. Over the same period, new listings were down by a greater rate than sales, suggesting market conditions became tighter.

"The sales picture in the GTA improved markedly in the second quarter of 2013. While the number of transactions was still down compared to 2012, rates of decline were substantially improved compared to the first quarter," said Toronto Real Estate Board President Dianne Usher.

"As a growing number of homebuyers, many of whom put their purchase on hold due to stricter lending guidelines, now reactivate their search, the expectation is for renewed growth in home sales in the second half of 2013," added Ms. Usher.

Story continues below video
Watch Video of Jason Mercer
 Senior Manager, Market Analysis,
discusses the Market Watch Report for June 2013.



The average selling price in June was up by 4.7 per cent year-over-year to $531,374. In line with the 2013 norm, June price growth was driven by the single-detached and semi-detached market segments, particularly in the City of Toronto. Over the same time period, average condominium apartment selling prices remained in line with 2012 levels.

"The short supply of low-rise home types in many parts of the GTA relative to the number of households looking to buy continued to prompt strong upward pressure on selling prices of singles and semis," said Jason Mercer, TREB's Senior Manager of Market Analysis. "We have also seen enough buyers in the better-supplied condo apartment market to provide support for selling prices at current levels."

Summary of TorontoMLS Sales and Average Price
 
 
 
 
 
 
 
 
June 1 - 30
 
2013
2012
 
Sales
Average  
Price
New  
Listings
Sales
Average  
Price
New  
Listings
City of Toronto ("416")
3,265
$578,575
5,913
3,435
$553,417
6,697
Rest of GTA ("905")
5,796
$504,784
9,651
5,694
$479,546
9,885
GTA
9,061
$531,374
15,564
9,129
$507,342
16,582
Source:  
Toronto Real Estate Board
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TorontoMLS Sales & Average Price  By Home Type
 
 
 
 
 
 
 
 
June 1 - 30, 2013
 
Sales
Average Price
 
416
905
Total
416
905
Total
 
 
 
 
 
 
 
Detached
1,137
3,411
4,548
866,326
598,708
665,613
Yr./Yr. % Change
-6.9%
3.2%
0.5%
8.1%
4.9%
5.2%
Semi-Detached
380
623
1,003
618,194
411,877
490,043
Yr./Yr. % Change
-3.1%
0.8%
-0.7%
9.5%
3.7%
6.0%
Townhouse
379
1,054
1,433
443,126
378,264
395,418
Yr./Yr. % Change
-5.3%
0.9%
-0.8%
-1.6%
6.0%
3.3%
Condo Apartment
1,329
556
1,885
366,532
288,604
343,546
Yr./Yr. % Change
-4.0%
-2.3%
-3.5%
0.3%
0.9%
0.4%
Source:  
Toronto Real Estate Board
 
 
 
 
 


Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 36,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada’s largest real estate board.


Click here for complete Market Watch [PDF]

Media Inquiries:
Mary Gallagher,
Senior Manager Public Affairs
(416) 443-8158
maryg@trebnet.com

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