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

TORONTO, ONTARIO--(Marketwired - Oct. 16, 2013) - Greater Toronto Area REALTORS® reported 3,460 sales through the TorontoMLS system during the first 14 days of October 2013. This result was up by 21 per cent in comparison to 2,849 sales reported during the same period in 2012. October mid-month sales were also up by 13 per cent compared to the 10-year average.

"With October mid-month sales well-above the 10-year average, it seems clear that we have more than recovered from the temporary dip in residential transactions that resulted from the onset of stricter mortgage lending guidelines," said Toronto Real Estate Board President Dianne Usher.

"It is also important to note that the supply of ground-oriented listings remains constrained, due in part to the additional land transfer tax and stricter lending guidelines. If this were not the case, the number of sales could have been greater because more households would have been able find a home to purchase," continued Ms. Usher.

The average selling price for October mid-month transactions was $536,301 - up 7.3 per cent compared to the first 14 days of October 2012.

"Price growth has been stronger in the second half of 2013, as sales growth has outstripped growth in listings. There have been more buyers competing for available properties compared to the first half of the year, which has led to increased upward pressure on average selling prices," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis.

Summary of TorontoMLS Sales and Average Price
	October 1 - 14
	2013				2012
	Sales	Average Price		New Listings	Sales	Average Price		New Listings
City of Toronto ("416")	1,381	$	589,828	2,286	1,118	$	535,058	2,764
Rest of GTA ("905")	2,079	$	500,745	3,522	1,731	$	476,823	3,707
GTA	3,460	$	536,301	5,808	2,849	$	499,675	6,471

TorontoMLS Sales & Average Price By Home Type
		October 1 - 14, 2013
		Sales						Average Price
		416		905		Total		416		905		Total
Detached		502		1,181		1,683		840,396		603,149		673,915
	Yr./Yr. % Change	28.7	%	18.1	%	21.1	%	8.2	%	6.0	%	7.4	%
Semi-Detached		140		211		351		630,760		413,586		500,208
	Yr./Yr. % Change	5.3	%	15.9	%	11.4	%	10.4	%	5.1	%	6.7	%
Townhouse		142		401		543		498,480		367,660		401,871
	Yr./Yr. % Change	24.6	%	20.8	%	21.7	%	14.4	%	3.4	%	6.9	%
Condo Apartment		582		236		818		391,180		314,109		368,945
	Yr./Yr. % Change	22.0	%	31.8	%	24.7	%	10.7	%	11.0	%	10.4	%

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.

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