Toronto Real Estate Board

Toronto Real Estate Board

May 16, 2013 10:03 ET

GTA Realtors® Release Mid-Month Resale Housing Figures

TORONTO, ONTARIO--(Marketwired - May 16, 2013) - Greater Toronto Area REALTORS® reported 4,476 transactions through the TorontoMLS system during the first 14 days of May. This result represented a decline of 9.7 per cent compared to the same period in 2012. Sales declines were larger for the City of Toronto, at 11.4 per cent, versus the surrounding regions where sales were down by 8.6 per cent year-over-year.

"Despite fewer sales this year compared to last, competition between buyers in most segments of the market remained strong enough to promote annual rates of price growth above the rate of inflation. A household earning the average income in the GTA can comfortably afford the mortgage payments associated with the purchase of an average priced home," said Toronto Real Estate Board President Ann Hannah.

The average selling price during the first two weeks of May was $543,838 - up by 5.4 per cent in comparison to the same time frame last year. Price growth was strongest for low-rise home types, but positive price growth for condo apartments in the City of Toronto was also reported.

"Continuing the prevailing trend over the last year, the low-rise segment of the market drove overall price growth during the first half of May, as months of inventory remained below historic norms for key home types," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Summary of TorontoMLS Sales and Average Price - May 1 - 14
2013 2012
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 1,685 $594,789 3,499 1,901 $573,137 3,767
Rest of GTA ("905") 2,791 $513,077 5,661 3,054 $480,578 5,089
GTA 4,476 $543,838 9,160 4,955 $516,089 8,856
TorontoMLS Sales & Average Price By Home Type - May 1 - 14, 2013
Sales Average Price
416 905 Total 416 905 Total
Detached 626 1,618 2,244 855,334 615,563 682,451
Yr./Yr. % Change -6.7 % -7.8 % -7.5 % 2.0 % 7.5 % 5.6 %
Semi-Detached 202 302 504 630,984 414,835 501,466
Yr./Yr. % Change -6.0 % -7.6 % -7.0 % 5.5 % 3.2 % 4.5 %
Townhouse 181 511 692 457,666 384,298 403,489
Yr./Yr. % Change -21.3 % -9.6 % -13.0 % -2.3 % 7.1 % 3.3 %
Condo Apartment 661 281 942 377,341 285,851 350,050
Yr./Yr. % Change -13.6 % -11.6 % -13.0 % 2.1 % -1.4 % 1.1 %

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.

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Contact Information

  • Media Inquiries:
    Toronto Real Estate Board
    Mary Gallagher
    Senior Manager Public Affairs
    (416) 443-8158
    maryg@trebnet.com