GTA REALTORS(R) Release Mid-Month Resale Housing Figures

TORONTO, ONTARIO--(Marketwired - Sept. 17, 2013) - Greater Toronto Area REALTORS® reported 3,158 transactions through the TorontoMLS system during the first 14 days of September 2013. This result was up by 29 per cent in comparison to September 2012. Sales were up for all major home types on a year-over-year basis. The condominium apartment segment led the way with strong sales growth in the City of Toronto.

"The strong growth in sales that we have seen over the past two-and-a-half months indicates that GTA households are approaching home ownership with a renewed sense of confidence. Prospective home buyers have taken a hard look at their household balance sheets over the past year and have found that, despite stricter lending guidelines, there are affordable property types from which to choose," said Toronto Real Estate Board President Dianne Usher.

The number of new listings entered into the TorontoMLS system was down slightly in comparison to the same period in 2012. Strong sales growth coupled with a slight reduction in new listings points to increased competition between buyers in some market segments and the continuation of above-inflation rates of price growth. The average selling price at mid-month September was up by four per cent on an annual basis to $514,560.

"With months of inventory remaining low from a historic perspective and evidence of tighter market conditions during the summer, the only argument that makes sense is for continued home price growth in the Greater Toronto Area for the remainder of 2013," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Summary of TorontoMLS Sales and Average Price September 1 - 14

	2013							2012
	Sales		Average Price			New Listings		Sales		Average Price			New Listings
City of Toronto ("416")	1,151		$	531,388		3,021		869		$	534,782		3,282
Rest of GTA ("905")	2,007		$	504,909		4,553		1,581		$	473,031		4,450
GTA	3,158		$	514,560		7,574		2,450		$	494,933		7,732

TorontoMLS Sales & Average Price By Home Type September 1 - 14, 2013
		Sales									Average Price
		416			905			Total			416			905			Total
Detached		375			1,173			1,548			806,839			600,588			650,552
	Yr./Yr. % Change	31.6	%		26.0	%		27.3	%		0.6	%		6.8	%		5.2	%
Semi-Detached		101			206			307			582,396			403,661			462,463
	Yr./Yr. % Change	13.5	%		38.3	%		29.0	%		-4.8	%		2.4	%		-2.7	%
Townhouse		137			378			515			439,018			383,815			398,500
	Yr./Yr. % Change	23.4	%		31.3	%		29.1	%		8.9	%		9.5	%		9.2	%
Condo Apartment		529			207			736			355,425			296,317			338,801
	Yr./Yr. % Change	42.6	%		21.8	%		36.0	%		0.9	%		4.2	%		2.4	%

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.

Get the latest real estate news and Market Watch information including market watch summary video

www.twitter.com/TREBhome

www.facebook.com/TorontoRealEstateBoard

www.youtube.com/TREBChannel