NEWS RELEASE 

 


GTA REALTORS® RELEASE MONTHLY RESALE HOUSING FIGURES

 

TORONTO, February 5, 2013 -- Greater Toronto Area REALTORS® reported 4,375 transactions through the TorontoMLS system in January 2013.  This number represented a slight decline compared to 4,432 transactions reported in January 2012.

“The January sales figures represent a good start to 2013.  While the number of transactions was down slightly compared to last year, the rate of decline was much less than what was experienced in the second half of 2012.  This suggests that some buyers, who put their decision to purchase on hold last year due to stricter mortgage lending guidelines, are once again becoming active in the market,” said Toronto Real Estate Board (TREB) President Ann Hannah.

“It is interesting to note that sales were up for many home types in the GTA regions surrounding the City of Toronto.  This is due, at least in part, to the additional upfront land transfer tax in the City of Toronto,” added Ms. Hannah.

The average selling price for January 2013 sales was $482,648 – up by 4.3 per cent compared to $462,655 in January 2012.  The MLS® Home Price Index (HPI) Composite Benchmark price was up by 3.8 per cent over the same period.

“There will be enough competition between buyers in the marketplace to prompt continued growth in home prices in 2013.  Expect annual average price growth in the three to five per cent range this year,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

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 36,000 TREB Members serve consumers in the Greater Toronto Area.  The Toronto Real Estate Board is Canada’s largest real estate board.
   

 

 

Summary of TorontoMLS Sales and Average Price January 1-31, 2013

2013

2012

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

1,559

$507,859

4,207

1,667

$498,534

4,015

Rest of GTA ("905")

2,816

$468,691

6,417

2,765

$441,024

5,583

GTA

4,375

$482,648

10,624

4,432

$462,655

9,598

 

 

TorontoMLS Sales & Average Price  By Home Type January 1-31, 2013

 

Sales

Average Price

 

416

905

Total

416

905

Total

 

Detached

502

1,579

2,081

765,049

563,675

612,252

 

Yr./Yr. % Change

-7.6%

3.7%

0.7%

2.7%

6.8%

4.7%

 

Semi-Detached

147

324

471

586,080

391,830

452,456

 

Yr./Yr. % Change

-5.2%

0.9%

-1.1%

12.5%

3.6%

6.5%

 

Townhouse

166

519

685

418,262

359,271

373,566

 

Yr./Yr. % Change

-11.2%

1.0%

-2.3%

1.8%

5.6%

4.0%

 

Condo Apartment

730

321

1,051

340,295

269,073

318,542

 

Yr./Yr. % Change

-4.5%

-6.4%

-5.1%

-1.3%

-1.4%

-1.2%

 

 

 

 

- 30 -