GTA Realtors® Release Mid-Month Resale Figures

Greater Toronto Area REALTORS(R) reported 3,359 sales through the TorontoMLS system during the first two weeks of August 2013. This result represented a 22 per cent increase compared to 2,743 sales in August 2012. Sales were up on a year-over-year basis for all home types. Total new listings were up over the same period, but by a much lesser rate than sales.

“The strong annual sales growth experienced in July was sustained in the first two weeks of August. The fact that sales were up for all major home types in the City of Toronto and surrounding regions suggests that a wide range of buyers are active in the marketplace today – from first-time buyers through to existing home owners whose housing needs have changed,” said Toronto Real Estate Board President Dianne Usher.

The average selling price during the first two weeks of August 2013 was $494,617 – up three per cent in comparison to the same period in 2012.

“Sales growth that is stronger than new listings growth is indicative of more competition between buyers. Against this backdrop, it makes sense that the average selling price continued to grow,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Summary of TorontoMLS Sales and Average Price
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August 1 – 14

2013                      2012
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Average       New         Average       New
Sales     Price  Listings Sales     Price  Listings
City of Toronto (“416”)  1,164  $507,288     2,156   978  $503,559     1,954
Rest of GTA (“905”)      2,195  $487,897     3,623 1,765  $466,208     3,466
GTA                      3,359  $494,617     5,779 2,743  $479,525     5,420
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Source: Toronto Real Estate Board

TorontoMLS Sales & Average Price ByHome Type
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August 1 – 14, 2013

Sales                  Average Price
416      905    Total      416      905    Total
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Detached                   345    1,243    1,588  756,278  581,146  619,194
Yr./Yr. % Change        12.0%    27.1%    23.5%    -2.2%     3.7%     1.3%
Semi-Detached              100      246      346  576,055  409,728  457,799
Yr./Yr. % Change        17.6%    17.1%    17.3%    12.9%     3.8%     7.0%
Townhouse                  125      437      562  421,126  375,489  385,640
Yr./Yr. % Change        12.6%    29.3%    25.2%    -3.7%     6.4%     3.2%
Condo Apartment            585      216      801  368,058  282,231  344,913
Yr./Yr. % Change        25.5%    13.1%    21.9%     7.8%     1.3%     6.7%
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Source: Toronto Real Estate Board

Greater Toronto REALTORS(R) 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.
CONTACT INFORMATION:
Toronto Real Estate Board
Mary Gallagher
Senior Manager Public Affairs
(416) 443-8158
maryg@trebnet.com

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