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

Construction/Building — January 16, 2013

GTA REALTORS® Release Mid-Month Resale Housing Figures

TORONTO, ONTARIO--(Marketwire - Jan. 16, 2013) - Greater Toronto REALTORS® reported 1,469 sales through the TorontoMLS system during the first two weeks of January 2013. This result represented an increase of 2.4 per cent over the 1,435 transactions reported during the same period in 2012.

"The New Year started off on a positive note with residential sales slightly above last year's levels," said Toronto Real Estate Board (TREB) President Ann Hannah. "I am cautiously optimistic about this result. It will be important to watch sales trends closely as we move through the first quarter to see if some of the households who moved to the sidelines as a result of stricter lending guidelines are starting to renew their decision to purchase a home."

The average selling price during the first 14 days of 2013 was by up by four per cent on a year-over-year basis to $459,728.

"Continuing the trend from 2012, the low-rise segment of the market experienced the strongest price growth as competition between buyers remained quite strong," said Jason Mercer, TREB's Senior Manager of Market Analysis. "The average selling price is expected to grow in 2013, but at a slower pace as buyers benefit from more choice."

Summary of TorontoMLS Sales and Average Price January 1 - 14
		2013								2012
		Sales	Average Price					New Listings		Sales		Average Price			New Listings
City of Toronto ("416")		531	$	464,228				1,634		531		$	462,693		1,571
Rest of GTA ("905")		938	$	457,181				2,604		904		$	430,308		2,361
GTA		1,469	$	459,728				4,238		1,435		$	442,292		3,932
			TorontoMLS Sales & Average Price By Home Type
			January 1 - 14, 2013
						Sales						Average Price
			416			905		Total		416		905			Total

Detached				146		511		657		720,759			549,015		587,180
	Yr./Yr. % Change			-2.0	%	6.9	%	4.8	%	2.5	%		5.7	%	4.3	%
Semi-Detached				42		114		156		502,546			408,968		434,162
	Yr./Yr. % Change			16.7	%	10.7	%	12.2	%	12.9	%		10.6	%	11.5	%
Townhouse				65		177		242		414,550			357,154		372,570
	Yr./Yr. % Change			14.0	%	-3.8	%	0.4	%	3.5	%		4.4	%	4.6	%
Condo Apartment				273		115		388		337,624			260,434		314,745
	Yr./Yr. % Change			-4.2	%	-5.0	%	-4.4	%	-4.4	%		-0.2	%	-3.3	%

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 35,000 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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Contact Information

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

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