NEWS RELEASE 

 


GTA REALTORS® RELEASE MONTHLY RESALE HOUSING FIGURES

 

TORONTO, October 3, 2013 -- Greater Toronto Area REALTORS® reported 7,411 residential sales through the TorontoMLS system in September 2013, representing a 30 per cent increase compared to 5,687 transactions reported in September 2012.  Year-to-date, total residential sales reported through TorontoMLS amounted to 68,907 during the first nine months of 2013 – down by one per cent compared to the same period in 2012.

 

“It’s great news that households have found that the costs of home ownership, including mortgage payments, remain affordable.  This is why the third quarter was characterized by renewed growth in home sales in the GTA.  We expect to see sales up for the remainder of 2013, as the pent-up demand that resulted from stricter mortgage lending guidelines continues to be satisfied,” said Toronto Real Estate Board President Dianne Usher.

 

The average selling price for September transactions was $533,797 – up by 6.5 per cent year-over-year.  Through the first three quarters of 2013, the average selling price was $520,118 – up by over four per cent compared to the first nine months of 2012.

 

The MLS® Home Price Index composite benchmark for September was up by four per cent year-over-year.  The annual rate of growth for the composite benchmark has been accelerating since the spring of 2013.

 

“The price growth story in September continued to be about strong demand for low-rise home types, coupled with a short supply of listings.  Even with slower price growth and month-to-month volatility in the condo apartment market, overall annual price growth has been well above the rate of inflation this year.  This scenario will continue to play out through the remainder of 2013,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 

Summary of TorontoMLS Sales and Average Price September 1 - 30

2013

2012

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

2,789

$571,410

5,994

2,185

$544,744

6,313

Rest of GTA ("905")

4,622

$511,100

8,944

3,502

$474,236

8,825

GTA

7,411

$533,797

14,938

5,687

$501,326

15,138

 

 

TorontoMLS Sales & Average Price  By Home Type September 1 - 30, 2013

 

Sales

Average Price

 

416

905

Total

416

905

Total

 

 

Detached

972

2,717

3,689

856,169

608,866

674,027

 

Yr./Yr. % Change

31.7%

34.6%

33.9%

10.2%

7.1%

7.9%

 

Semi-Detached

298

458

756

616,049

405,920

488,749

 

Yr./Yr. % Change

13.3%

25.5%

20.4%

1.9%

3.2%

1.5%

 

Townhouse

291

877

1,168

455,518

388,727

405,368

 

Yr./Yr. % Change

18.3%

35.8%

30.9%

7.5%

11.5%

9.7%

 

Condo Apartment

1,203

467

1,670

363,149

290,239

342,760

 

Yr./Yr. % Change

31.5%

22.3%

28.8%

-3.7%

2.9%

-1.8%

 

 

 

 

 

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