Toronto Real Estate Board

Toronto Real Estate Board

December 17, 2013 11:30 ET

GTA REALTORS® Release Mid-Month Resale Housing Figures

TORONTO, ONTARIO--(Marketwired - Dec. 17, 2013) - Greater Toronto Area REALTORS® reported 2,483 residential sales through the TorontoMLS system during the first two weeks of December 2013. This number of transactions represented an 18 per cent increase compared to 2,104 sales reported during the same period in 2012. The number of new listings entered into the TorontoMLS system was basically unchanged from a year ago.

"The key story in the GTA housing market continues to surround the availability of listings, or lack thereof. With the cost of homeownership remaining affordable, we have seen a resurgence in buying activity in the second half of 2013. However, growth in listings has not matched growth in sales. The result has been more buyers competing for fewer listings. This is why we continue to experience strong price growth," said Toronto Real Estate Board President Dianne Usher.

The average selling price for December mid-month transactions was up 10 per cent to $520,379, compared to $471,602 reported for the first 14 days of December 2012.

"Inventory levels will remain low in many parts of the GTA in 2014, especially where low-rise home types are concerned, including single-detached and semi-detached houses and townhomes. Expect above- inflation price growth to continue next year," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis.

Summary of TorontoMLS Sales and Average Price December 1 - 14
2013 2012
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 954 $ 533,843 1,226 861 $ 489,922 1,151
Rest of GTA ("905") 1,529 $ 511,978 1,710 1,243 $ 458,912 1,790
GTA 2,483 $ 520,379 2,936 2,104 $ 471,602 2,941
TorontoMLS Sales & Average Price By Home Type December 1 - 14, 2013
Sales Average Price
416 905 Total 416 905 Total
Detached 287 834 1,121 $ 804,830 $ 633,549 $ 677,401
Yr./Yr. % Change -4.0 % 20.9 % 13.3 % 15.4 % 14.7 % 13.6 %
Semi-Detached 90 150 240 $ 647,314 $ 410,425 $ 499,258
Yr./Yr. % Change 13.9 % 10.3 % 11.6 % 19.4 % 7.3 % 13.2 %
Townhouse 106 293 399 $ 444,378 $ 387,674 $ 402,738
Yr./Yr. % Change 17.8 % 19.6 % 19.1 % 8.3 % 12.2 % 11.0 %
Condo Apartment 454 216 670 $ 365,559 $ 291,496 $ 341,682
Yr./Yr. % Change 18.5 % 43.0 % 25.5 % 7.9 % 1.7 % 5.4 %

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

Contact Information

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