Toronto Real Estate Board

Toronto Real Estate Board

August 16, 2013 10:00 ET

GTA Realtors® Release Mid-Month Resale Figures

TORONTO, ONTARIO--(Marketwired - Aug. 16, 2013) - Greater Toronto Area REALTORS® 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
August 1 - 14
2013 2012
Sales Average Price New Listings Sales Average Price New 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
Source: Toronto Real Estate Board
TorontoMLS Sales & Average Price ByHome Type
August 1 - 14, 2013
Sales Average Price
416 905 Total 416 905 Total
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 %
Source: Toronto Real Estate Board

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 37,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada's largest real estate board.

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