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GTA REALTORS (R) Release Monthly Resale Housing Figures

Jul 4 2013 12:00AM

Marketwire

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TORONTO, ONTARIO -- (Marketwired) -- 07/04/13 -- Greater Toronto Area REALTORS® reported 9,061 sales through the TorontoMLS system in June 2013 - down by less than one per cent compared to June 2012. Over the same period, new listings were down by a greater rate than sales, suggesting market conditions became tighter.

"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.

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 ---------------------------------------------------- Average New Average New Sales Price Listings Sales Price ListingsCity of Toronto ("416") 3,265 $578,575 5,913 3,435 $553,417 6,697Rest of GTA ("905") 5,796 $504,784 9,651 5,694 $479,546 9,885GTA 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 Average Sales 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 37,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada's largest real estate board.

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

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Source: Marketwire