September Mid Month Housing Figures

September 17, 2013 - Updated: September 17, 2013

GTA REALTORS® Release Mid-Month Resale Housing Figures

 

September 17, 2013 -- Greater Toronto Area REALTORS® reported 3,158 transactions through the TorontoMLS system during the first 14 days of September 2013.  This result was up by 29 per cent in comparison to September 2012.  Sales were up for all major home types on a year-over-year basis.  The condominium apartment segment led the way with strong sales growth in the City of Toronto.

 

“The strong growth in sales that we have seen over the past two-and-a-half months indicates that GTA households are approaching home ownership with a renewed sense of confidence.  Prospective home buyers have taken a hard look at their household balance sheets over the past year and have found that, despite stricter lending guidelines, there are affordable property types from which to choose,” said Toronto Real Estate Board President Dianne Usher.

 

The number of new listings entered into the TorontoMLS system was down slightly in comparison to the same period in 2012.  Strong sales growth coupled with a slight reduction in new listings points to increased competition between buyers in some market segments and the continuation of above-inflation rates of price growth.  The average selling price at mid-month September was up by four per cent on an annual basis to $514,560.

 

“With months of inventory remaining low from a historic perspective and evidence of tighter market conditions during the summer, the only argument that makes sense is for continued home price growth in the Greater Toronto Area for the remainder of 2013,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 


Summary of TorontoMLS Sales and Average Price September 1 - 14

 

2013

2012

 

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

1,151

$531,388

3,021

869

$534,782

3,282

Rest of GTA ("905")

2,007

$504,909

4,553

1,581

$473,031

4,450

GTA

3,158

$514,560

7,574

2,450

$494,933

7,732

TorontoMLS Sales & Average Price  By Home Type September 1 - 14, 2013

 

 

Sales

Average Price

 

 

416

905

Total

416

905

Total

 

             

 

Detached

375

1,173

1,548

806,839

600,588

650,552

 

Yr./Yr. % Change

31.6%

26.0%

27.3%

0.6%

6.8%

5.2%

 

Semi-Detached

101

206

307

582,396

403,661

462,463

 

Yr./Yr. % Change

13.5%

38.3%

29.0%

-4.8%

2.4%

-2.7%

 

Townhouse

137

378

515

439,018

383,815

398,500

 

Yr./Yr. % Change

23.4%

31.3%

29.1%

8.9%

9.5%

9.2%

 

Condo Apartment

529

207

736

355,425

296,317

338,801

 

Yr./Yr. % Change

42.6%

21.8%

36.0%

0.9%

4.2%

2.4%

 

                           

 

 


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Sutton Group Realty Systems Brokerage

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