Brian Madigan LL.B., Broker
BRMadigan@iSourceRealEstate.com

RE/MAX West Realty Inc.,
Brokerage
Independently owned and operated

96 Rexdale Blvd. 
Toronto, Ontario 


Phone: 416-745-2300
Toll Free: 1-888-507-0817

 

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TREB ~ Report for Mid-December 2013

December 18, 2013 - Updated: December 18, 2013

 

GTA REALTORS® RELEASE MID-MONTH RESALE HOUSING FIGURES

 

TORONTO, December 17, 2013 – Greater Toronto Area REALTORS® reported 2,483 residential sales through the TorontoMLS system during the first two weeks of December 2013. This number of transactions represented an 18 per cent increase compared to 2,104 sales reported during the same period in 2012. The number of new listings entered into the TorontoMLS system was basically unchanged from a year ago.

 

“The key story in the GTA housing market continues to surround the availability of listings, or lack thereof. With the cost of homeownership remaining affordable, we have seen a resurgence in buying activity in the second half of 2013.

 

However, growth in listings has not matched growth in sales. The result has been more buyers competing for fewer listings. This is why we continue to experience strong price growth,” said Toronto Real Estate Board President Dianne Usher.

 

The average selling price for December mid-month transactions was up 10 per cent to $520,379, compared to $471,602 reported for the first 14 days of December 2012.

 

“Inventory levels will remain low in many parts of the GTA in 2014, especially where low-rise home types are concerned, including single-detached and semi-detached houses and townhomes. Expect above-inflation price growth to continue next year,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.

 

 

Summary of TorontoMLS Sales and Average Price December 1 - 14

2013

2012

Sales

Average Price

New Listings

Sales

Average Price

New Listings

 

City of Toronto ("416")

954

$533,843

1,226

861

$489,922

1,151

 

Rest of GTA ("905")

1,529

$511,978

1,710

1,243

$458,912

1,790

 

GTA

2,483

$520,379

2,936

2,104

$471,602

2,941

 

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

Sales

Average Price

416

905

Total

416

905

Total

 

Detached

287

834

1,121

$804,830

$633,549

$677,401

 

Yr./Yr. % Change

-4.0%

20.9%

13.3%

15.4%

14.7%

13.6%

 

Semi-Detached

90

150

240

$647,314

$410,425

$499,258

 

Yr./Yr. % Change

13.9%

10.3%

11.6%

19.4%

7.3%

13.2%

 

Townhouse

106

293

399

$444,378

$387,674

$402,738

 

Yr./Yr. % Change

17.8%

19.6%

19.1%

8.3%

12.2%

11.0%

 

Condo Apartment

454

216

670

$365,559

$291,496

$341,682

 

Yr./Yr. % Change

18.5%

43.0%

25.5%

7.9%

1.7%

5.4%

 

                         

 


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Brian Madigan LL.B. Broker

RE/MAX West Realty Inc. Brokerage

Independently owned and operated

96 Rexdale Blvd. , Toronto Ontario,

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