GTA REALTORS(R) Resale Housing Mid-Month Figures

TORONTO, ONTARIO--(Marketwired - Nov. 18, 2013) - Greater Toronto Area REALTORS® reported 3,131 residential transactions through the TorontoMLS system during the first two weeks of November 2013. This result represented a 21 per cent year-over-year increase compared to 2,582 sales reported during the same timeframe in 2012. Over the same period, new listings were down by more than four per cent.

"The results for mid-November indicate that GTA households remain comfortable with the costs of home ownership," said Toronto Real Estate Board President Dianne Usher. "If not for the persistent shortage of listings for most home types, we would likely be experiencing an even higher level of sales as more buyers would be able to make a deal on a home meeting their needs."

The average selling price for November 2013 mid-month transactions was $538,708, representing an 11 per cent increase compared to $485,988 in 2012.

"More buyers competing for a smaller number of listings has translated into an accelerating pace of price growth. This theme has been most prevalent in the low-rise market segment, including single-detached and semi-detached houses and townhomes. However, it is important to note that the condominium apartment market has also become tighter," said Jason Mercer, TREB's Senior Manager of Market Analysis.

TorontoMLS Sales & Average Price By Home Type November 1 - 14, 2013
	Sales						Average Price
	416		905		Total		416		905		Total
Detached	468		1,067		1,535		845,883		595,545		671,869
Yr./Yr. % Change	43.1	%	19.5	%	25.8	%	11.5	%	7.7	%	10.5	%
Semi-Detached	133		202		335		662,447		427,599		520,837
Yr./Yr. % Change	6.4	%	24.7	%	16.7	%	10.9	%	10.1	%	8.6	%
Townhouse	125		352		477		477,096		378,518		404,351
Yr./Yr. % Change	5.9	%	20.1	%	16.1	%	9.3	%	6.9	%	7.0	%
Condo Apartment	526		205		731		395,865		274,664		361,876
Yr./Yr. % Change	19.8	%	15.8	%	18.7	%	14.1	%	-0.6	%	10.8	%

Summary of TorontoMLS Sales and Average Price November 1 - 14
		2013				2012
	Sales	Average Price		New Listings	Sales	Average Price		New Listings
City of Toronto ("416")	1,259	$	598,924	2,049	1,025	$	518,825	2,196
Rest of GTA ("905")	1,872	$	498,210	2,941	1,557	$	464,371	3,018
GTA	3,131	$	538,708	4,990	2,582	$	485,988	5,214

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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