News Column

GTA REALTORS(R) Release Mid-Month Resale Housing Figures

Mar 18 2013 12:00AM

Marketwire

LogoTracker

TORONTO, ONTARIO -- (Marketwire) -- 03/18/13 -- Greater Toronto Area REALTORS® reported 3,594 transactions through the TorontoMLS system during the first 14 days of March 2013 - down 11.5 per cent compared to the same period last year. The number of new listings was up by less than two per cent.

"With sales down and listings up slightly, the GTA market was better supplied in the first half of March compared to last year. This fact notwithstanding, there has been enough competition between buyers to promote moderate to strong upward pressure on average selling prices for most home types on an annual basis," said Toronto Real Estate Board President Ann Hannah.

"The average price for condominium apartments in the City of Toronto was up over last year. If this price growth continues, it may indicate that conditions are tightening slightly in this segment," added Ms. Hannah.

The average selling price for the first two weeks of March was up by almost six per cent year-over-year to $532,102. Average prices were up for all major home type categories.

"Due to tight supply, the average annual rate of price growth for singles, semis and towns continues to far outpace the rate of inflation. The condo apartment segment has been a mitigating factor, which is why our forecast for price growth in 2013 remains at approximately 3.5 per cent or $515,000 for all home types combined," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Summary of TorontoMLS Sales and Average Price March 1 - 14---------------------------------------------------------------------------- 2013 2012 ---------------------------------------------------------- Average New Average New Sales Price Listings Sales Price ListingsCity of Toronto ("416") 1,384 $ 586,655 2,618 1,596 $ 554,788 2,741Rest of GTA ("905") 2,210 $ 497,938 4,416 2,466 $ 469,154 4,178GTA 3,594 $ 532,102 7,034 4,062 $ 502,800 6,919-------------------------------------------------------------------------------------------------------------------------------------------------------- TorontoMLS Sales & Average Price By Home Type March 1 - 14, 2013---------------------------------------------------------------------------- Sales Average Price 416 905 Total 416 905 Total ----------------------------------------------------------Detached 470 1,264 1,734 909,910 603,797 686,769 Yr./Yr. % Change -13.8% -11.5% -12.2% 7.2% 7.7% 7.2%Semi-Detached 140 246 386 622,044 398,328 479,469 Yr./Yr. % Change -20.0% -7.5% -12.5% 12.2% 2.9% 5.7%Townhouse 144 393 537 447,460 375,420 394,738 Yr./Yr. % Change -10.0% -9.9% -9.9% 8.2% 6.8% 7.2%Condo Apartment 619 255 874 368,715 274,080 341,104 Yr./Yr. % Change -10.7% -7.9% -9.9% 1.9% 0.2% 1.3%--------------------------------------------------------------------------------------------------------------------------------------------------------



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 36,000 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



Contacts:
Media Inquiries:
Toronto Real Estate Board
Mary Gallagher
Senior Manager Public Affairs
(416) 443-8158
maryg@trebnet.com

Twitter: www.twitter.com/TREBhome
Facebook: www.facebook.com/TorontoRealEstateBoard
YouTube: www.youtube.com/TREBChannel





Source: Marketwire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters