Toronto Real Estate Board

Toronto Real Estate Board

June 18, 2013 10:00 ET

GTA Realtors® Release Mid-Month Resale Housing Figures

TORONTO, ONTARIO--(Marketwired - June 18, 2013) - Greater Toronto Area REALTORS® reported 4,620 sales through the TorontoMLS system during the first two weeks of June 2013. This result was up by 4.7 per cent compared to the first two weeks of June 2012. Year-over-year sales growth was driven by the regions/counties surrounding the City of Toronto. Home sales in the City were basically flat in comparison to last year.

"The expectation was for an improvement in home sales in the second half of 2013. Early June results are in line with this outlook. Many households have adapted to stricter lending guidelines and have renewed their search for ownership housing," said Toronto Real Estate Board President Ann Hannah.

"It is also important to note that new listings were down over the same period. With sales up and new listings down, market conditions became tighter. This supports the moderate to strong rates of price growth reported for most major home types, including condominium apartments," added Ms. Hannah.

The average selling price for the first fourteen days of June was $536,141 - up by 3.8 per cent compared to June 2012.

"While price growth has been driven by low-rise home types this year, condominium apartment price growth has improved since March. Despite higher inventory levels, there have been enough buyers relative to available listings to support condo price appreciation," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Summary of TorontoMLS Sales and Average Price June 1 - 14, 2013

2013 2012
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 1,636 $590,468 3,153 1,644 $566,789 3,370
Rest of GTA ("905") 2,984 $506,356 5,108 2,768 $486,557 4,970
GTA 4,620 $536,141 8,261 4,412 $516,453 8,340
TorontoMLS Sales & Average Price By Home Type June 1 - 14, 2013
Sales Average Price
416 905 Total 416 905 Total
Detached 577 1,759 2,336 877,384 601,995 670,017
Yr./Yr. % Change -4.0 % 8.5 % 5.1 % 7.0 % 3.8 % 3.9 %
Semi-Detached 197 317 514 631,667 410,751 495,421
Yr./Yr. % Change 13.9 % 12.4 % 13.0 % 10.3 % 4.8 % 7.6 %
Townhouse 182 548 730 449,346 378,265 395,986
Yr./Yr. % Change -12.9 % 10.5 % 3.5 % -2.8 % 3.4 % 0.4 %
Condo Apartment 662 285 947 374,421 284,608 347,392
Yr./Yr. % Change 2.2 % 1.4 % 1.9 % 1.8 % 1.2 % 1.7 %

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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