TORONTO, ONTARIO -- (Marketwire) -- 01/16/13 -- Greater Toronto REALTORS® reported 1,469 sales through the TorontoMLS system during the first two weeks of January 2013. This result represented an increase of 2.4 per cent over the 1,435 transactions reported during the same period in 2012.
"The New Year started off on a positive note with residential sales slightly above last year's levels," said Toronto Real Estate Board (TREB) President Ann Hannah. "I am cautiously optimistic about this result. It will be important to watch sales trends closely as we move through the first quarter to see if some of the households who moved to the sidelines as a result of stricter lending guidelines are starting to renew their decision to purchase a home."
The average selling price during the first 14 days of 2013 was by up by four per cent on a year-over-year basis to $459,728.
"Continuing the trend from 2012, the low-rise segment of the market experienced the strongest price growth as competition between buyers remained quite strong," said Jason Mercer, TREB's Senior Manager of Market Analysis. "The average selling price is expected to grow in 2013, but at a slower pace as buyers benefit from more choice."
Summary of TorontoMLS Sales and Average Price January 1 - 14--------------------------------------------------------------------------- 2013 2012 --------------------------------------------------------------- New Average New Sales Average Price Listings Sales Price ListingsCity of Toronto ("416") 531 $ 464,228 1,634 531 $462,693 1,571Rest of GTA ("905") 938 $ 457,181 2,604 904 $430,308 2,361GTA 1,469 $ 459,728 4,238 1,435 $442,292 3,932---------------------------------------------------------------------------- TorontoMLS Sales & Average Price By Home Type --------------------------------------------------------- January 1 - 14, 2013 Sales Average Price 416 905 Total 416 905 Total ---------------------------------------------------------Detached 146 511 657 720,759 549,015 587,180 Yr./Yr. % Change -2.0% 6.9% 4.8% 2.5% 5.7% 4.3%Semi-Detached 42 114 156 502,546 408,968 434,162 Yr./Yr. % Change 16.7% 10.7% 12.2% 12.9% 10.6% 11.5%Townhouse 65 177 242 414,550 357,154 372,570 Yr./Yr. % Change 14.0% -3.8% 0.4% 3.5% 4.4% 4.6%Condo Apartment 273 115 388 337,624 260,434 314,745 Yr./Yr. % Change -4.2% -5.0% -4.4% -4.4% -0.2% -3.3%---------------------------------------------------------------------------- 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 35,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada's largest real estate board.Get the latest real estate news and Market Watch information including market watch summary video.
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