Construction/Building — February 19, 2013

GTA REALTORS® Release Mid-Month Resale Housing Figures

TORONTO, ONTARIO--(Marketwire - Feb. 19, 2013) - Greater Toronto Area REALTORS® reported 2,823 sales through the TorontoMLS system during the first 14 days of February. This result represented a decline of 8.3 per cent compared to the same period in 2012.

"The number of transactions was lower for most home types in comparison to last year, but so too was the number of new listings. This means that market conditions remained quite tight, especially for low-rise home types. The result was continued price growth over last year," said Toronto Real Estate Board President Ann Hannah.

The average selling price for TorontoMLS transactions in the first half of February was $509,061 - up by four per cent in comparison to the same time last year.

"The annual rate of price growth so far in February has been in line with expectations for 2013. The average selling price in the GTA will continue to grow this year but at a slower pace compared to 2012. The basis of this price growth will be the low-rise segment of the market, for which months of inventory and therefore choice for buyers remains very low," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Summary of TorontoMLS Sales and Average Price February 1 - 14
2013 2012
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 1,087 $ 555,423 2,196 1,169 $ 540,246 2,465
Rest of GTA ("905") 1,736 $ 480,030 3,323 1,910 $ 458,071 3,540
GTA 2,823 $ 509,061 5,519 3,079 $ 489,270 6,005
TorontoMLS Sales & Average Price By Home Type February 1 - 14, 2013
Sales Average Price
416 905 Total 416 905 Total
Detached 384 972 1,356 817,217 578,965 646,435
Yr./Yr. % Change -4.0 % -11.7 % -9.7 % 5.8 % 5.0 % 5.9 %
Semi-Detached 111 175 286 625,887 399,554 487,397
Yr./Yr. % Change -9.8 % -11.2 % -10.6 % 5.3 % 4.9 % 5.3 %
Townhouse 117 339 456 448,876 376,320 394,936
Yr./Yr. % Change 17.0 % 1.8 % 5.3 % 15.9 % 10.1 % 12.1 %
Condo Apartment 458 213 671 355,666 275,950 330,361
Yr./Yr. % Change -14.4 % -11.6 % -13.5 % -8.4 % 2.3 % -6.0 %

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 36,000 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:
Toronto Real Estate Board
Mary Gallagher
Senior Manager Public Affairs
(416) 443-8158
maryg@trebnet.com

Twitter: www.twitter.com/TREBhome
Facebook: www.facebook.com/TorontoRealEstateBoard
YouTube: www.youtube.com/TREBChannel

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