 |
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 |
"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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