TREB: September 2013 Mid-Month Resale Housing Figures

The Toronto Real Estate Board released their September 2013 Mid-Month Resale Housing Figures report this morning.  The numbers for this month show an increase in transactions (29% overall) for all major homes (on a year-over year basis).  The month has also seen a decline in the number of  new listings, compared to the same time period last year.  The full report is below or you can view it on the TREB website.

TREB: September 2013 resale housing figures

TREB: September 2013 Mid-Month Resale Housing Figures

 September 17, 2013 — Greater Toronto Area REALTORS® reported 3,158 transactions through the TorontoMLS system during the first 14 days of September 2013.  This result was up by 29 per cent in comparison to September 2012.  Sales were up for all major home types on a year-over-year basis.  The condominium apartment segment led the way with strong sales growth in the City of Toronto.

 “The strong growth in sales that we have seen over the past two-and-a-half months indicates that GTA households are approaching home ownership with a renewed sense of confidence.  Prospective home buyers have taken a hard look at their household balance sheets over the past year and have found that, despite stricter lending guidelines, there are affordable property types from which to choose,” said Toronto Real Estate Board President Dianne Usher.

 The number of new listings entered into the TorontoMLS system was down slightly in comparison to the same period in 2012. Strong sales growth coupled with a slight reduction in new listings points to increased competition between buyers in some market segments and the continuation of above-inflation rates of price growth.  The average selling price at mid-month September was up by four per cent on an annual basis to $514,560.

 “With months of inventory remaining low from a historic perspective and evidence of tighter market conditions during the summer, the only argument that makes sense is for continued home price growth in the Greater Toronto Area for the remainder of 2013,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 

Summary of TorontoMLS Sales and Average Price September 1 – 14
2013 2012
Sales Average Price New Listings Sales Average Price New Listings

City of Toronto (“416”)

1,151 $531,388 3,021 869 $534,782 3,282

Rest of GTA (“905”)

2,007 $504,909 4,553 1,581 $473,031 4,450

GTA

3,158 $514,560 7,574 2,450 $494,933 7,732
TorontoMLS Sales & Average Price  By Home Type September 1 – 14, 2013
Sales Average Price
416 905 Total 416 905 Total

Detached

375 1,173 1,548 806,839 600,588 650,552

Yr./Yr. % Change

31.6% 26.0% 27.3% 0.6% 6.8% 5.2%

Semi-Detached

101 206 307 582,396 403,661 462,463

Yr./Yr. % Change

13.5% 38.3% 29.0% -4.8% 2.4% -2.7%

Townhouse

137 378 515 439,018 383,815 398,500

Yr./Yr. % Change

23.4% 31.3% 29.1% 8.9% 9.5% 9.2%

Condo Apartment

529 207 736 355,425 296,317 338,801

Yr./Yr. % Change

42.6% 21.8% 36.0% 0.9% 4.2% 2.4%

Speak Your Mind

*