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NEWS RELEASE |
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GTA REALTORS® RELEASE MID-MONTH RESALE FIGURES
October 16, 2012 -- Greater Toronto Area REALTORS® reported 2,961 sales through the TorontoMLS system
during the first 14 days of October 2012. The number of transactions was down by
10.5 per cent compared to the same period in 2011. New
listings were up by 5.5 per cent year-over-year to 6,505.
“Some households have put their home purchase plans
on hold in response to the higher cost of home ownership brought about by
the recent changes to mortgage lending guidelines. Both
first-time buyers and existing home owners have been affected, given that
sales were down across house types and geography,” said Toronto Real
Estate Board (TREB) President Ann Hannah.
The average selling price for sales reported from October
1 through October 14 was $501,146 – up by almost six per cent in comparison
to last year.
“The average selling price grew well above the rate
of inflation in the first half of October due to relatively tight market
conditions from a historic perspective. However,
the market continued to become better supplied, pointing toward a slower
pace of price growth as we move into 2013,” said Jason Mercer, TREB’s
Senior Manager of Market Analysis.
Summary of TorontoMLS Sales
and Average Price October 1 - 14
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2012
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2011
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Sales
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Average Price
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New Listings
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Sales
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Average Price
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New Listings
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City
of Toronto ("416")
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1,157
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$537,296
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2,782
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1,345
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$523,731
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2,508
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Rest
of GTA ("905")
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1,804
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$477,961
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3,723
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1,965
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$439,766
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3,659
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GTA
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2,961
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$501,146
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6,505
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3,310
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$473,884
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6,167
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TorontoMLS Sales & Average Price By
Home Type October 1 - 14, 2012
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Sales
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Average Price
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416
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905
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Total
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416
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905
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Total
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Detached
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407
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1,047
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1,454
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774,595
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570,317
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627,498
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Yr./Yr. % Change
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-3%
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-3%
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-3%
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3%
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8%
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6%
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Semi-Detached
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139
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190
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329
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573,242
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390,706
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467,826
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Yr./Yr. % Change
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-19%
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-19%
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-19%
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4%
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7%
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5%
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Townhouse
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117
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345
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462
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435,920
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356,879
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376,896
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Yr./Yr. % Change
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-18%
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-4%
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-8%
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-7%
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4%
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0%
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Condo
Apartment
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488
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183
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671
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356,312
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282,361
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336,143
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Yr./Yr. % Change
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-18%
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-25%
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-20%
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-4%
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4%
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-2%
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For information about Buyer Representation Agreements (BRA) visit www.BRAFirst.ca
For Media/Public Inquiries: Mary Gallagher, Senior Manager Media Relations.
Toronto Real Estate Board 1400 Don Mills Road Toronto, ON M3B 3N1, Office: (416) 443-8158, Email:maryg@trebnet.com
Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 34,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board. Greater Toronto Area open house listings are available on www.TorontoRealEstateBoard.com