GTA REALTORS® Release Mid-Month Resale Housing Figures September [INFOGRAPHIC]

Sales were up for all major home types on a year-over-year basis. The condominium apartment segment led the way with strong sales growth in the City of Toronto

Greater Toronto Area REALTORS® reported 3,158 transactions through the TorontoMLS system during the first 14 days of September 2013. This result was up by 29 per cent in comparison to September 2012. Sales were up for all major home types on a year-over-year basis. The condominium apartment segment led the way with strong sales growth in the City of Toronto.

“The strong growth in sales that we have seen over the past two-and-a-half months indicates that GTA households are approaching home ownership with a renewed sense of confidence. Prospective home buyers have taken a hard look at their household balance sheets over the past year and have found that, despite stricter lending guidelines, there are affordable property types from which to choose,” said Toronto Real Estate Board President Dianne Usher.

Related Story:  The Canadian Real Estate Association (CREA) Updates Resale Housing Forecast [INFOGRAPHIC]

The number of new listings entered into the TorontoMLS system was down slightly in comparison to the same period in 2012. Strong sales growth coupled with a slight reduction in new listings points to increased competition between buyers in some market segments and the continuation of above-inflation rates of price growth. The average selling price at mid-month September was up by four per cent on an annual basis to $514,560.

“With months of inventory remaining low from a historic perspective and evidence of tighter market conditions during the summer, the only argument that makes sense is for continued home price growth in the Greater Toronto Area for the remainder of 2013,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.


Summary of TorontoMLS Sales and Average Price September 1 - 14
2013 2012
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 1,151 $531,388 3,021 869 $534,782 3,282
Rest of GTA ("905") 2,007 $504,909 4,553 1,581 $473,031 4,450
GTA 3,158 $514,560 7,574 2,450 $494,933 7,732
TorontoMLS Sales & Average Price By Home Type September 1 - 14, 2013
Sales Average Price
416 905 Total 416 905 Total
Detached 375 1,173 1,548 806,839 600,588 650,552
Yr./Yr. % Change 31.6% 26.0% 27.3% 0.6% 6.8% 5.2%
Semi-Detached 101 206 307 582,396 403,661 462,463
Yr./Yr. % Change 13.5% 38.3% 29.0% -4.8% 2.4% -2.7%
Townhouse 137 378 515 439,018 383,815 398,500
Yr./Yr. % Change 23.4% 31.3% 29.1% 8.9% 9.5% 9.2%
Condo Apartment 529 207 736 355,425 296,317 338,801
Yr./Yr. % Change 42.6% 21.8% 36.0% 0.9% 4.2% 2.4%


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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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