TORONTO, ONTARIO -- (Marketwire) -- 02/05/13 -- Greater Toronto Area REALTORS® reported 4,375 transactions through the TorontoMLS system in January 2013. This number represented a slight decline compared to 4,432 transactions reported in January 2012.
"The January sales figures represent a good start to 2013. While the number of transactions was down slightly compared to last year, the rate of decline was much less than what was experienced in the second half of 2012. This suggests that some buyers, who put their decision to purchase on hold last year due to stricter mortgage lending guidelines, are once again becoming active in the market," said Toronto Real Estate Board (TREB) President Ann Hannah.
"It is interesting to note that sales were up for many home types in the GTA regions surrounding the City of Toronto. This is due, at least in part, to the additional upfront land transfer tax in the City of Toronto," added Ms. Hannah.
The average selling price for January 2013 sales was $482,648 - up by 4.3 per cent compared to $462,655 in January 2012. The MLS® Home Price Index (HPI) Composite Benchmark price was up by 3.8 per cent over the same period.
"There will be enough competition between buyers in the marketplace to prompt continued growth in home prices in 2013. Expect annual average price growth in the three to five per cent range this year," said Jason Mercer, TREB's Senior Manager of Market Analysis.
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.
Summary of TorontoMLS Sales and Average Price January 1-31, 2013---------------------------------------------------------------------------- 2013 2012 ---------------------------------------------------------- Average New Average New Sales Price Listings Sales Price ListingsCity of Toronto("416") 1,559 $ 507,859 4,207 1,667 $ 498,534 4,015Rest of GTA("905") 2,816 $ 468,691 6,417 2,765 $ 441,024 5,583GTA 4,375 $ 482,648 10,624 4,432 $ 462,655 9,598----------------------------------------------------------------------------TorontoMLS Sales & Average Price By Home Type January 1-31, 2013 Sales Average Price 416 905 Total 416 905 Total ----------------------------------------------------------Detached 502 1,579 2,081 765,049 563,675 612,252Yr./Yr. % Change -7.6% 3.7% 0.7% 2.7% 6.8% 4.7%Semi-Detached 147 324 471 586,080 391,830 452,456Yr./Yr. % Change -5.2% 0.9% -1.1% 12.5% 3.6% 6.5%Townhouse 166 519 685 418,262 359,271 373,566Yr./Yr. % Change -11.2% 1.0% -2.3% 1.8% 5.6% 4.0%Condo Apartment 730 321 1,051 340,295 269,073 318,542Yr./Yr. % Change -4.5% -6.4% -5.1% -1.3% -1.4% -1.2%----------------------------------------------------------------------------Get the latest real estate news and Market Watch information including market watch summary video.
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