AUGUST 2013 SALE AND AVERAGE PRICE UP OVER 2012

 

 

September 5, 2013 – Greater Toronto Area REALTORS® reported 7,569 residential transactions through the Toronto MLS system in August 2013. This represented a 21 per cent increase compared to 6,249 sales in August 2012.

 

“Sales were up strongly this past August for all major home types compared to last year. Many households have accounted for the added costs brought on by stricter mortgage lending guidelines and have reactivated their search for a home. These households have found that a diversity of affordable ownership options exist throughout the GTA,” said Toronto Real Estate Board President Dianne Usher.

 

The average selling price for August 2013 was $503,094 – up by almost 5.5 per cent compared to the average of $477,170 in August 2012. The MLS® Home Price Index (HPI) composite benchmark was up by 3.7 per cent over the same period.

 

“Despite an increase in borrowing costs during the spring and summer, an average priced home in the GTA has remained affordable for a household earning an average income. With this in mind, tight market conditions are expected to promote continued price growth through the remainder of 2013,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 

 

 HOUSING MARKET PERFORMANCE

INDICATORS

AUGUST     2012

AUGUST     2013

% Change

Unit Sales

6,249

7,569

21.1%

New Listings

11,683

12,208

4.5%

Active Listings

19,043

18,788

-13.%

Days On Market

28

29

3.4%

Average Price

$477,170

$503,094

5.5%

Source: Toronto Real Estate Board - SEPTEMBER 2013

 

 

 

 

 
RE/MAX Active Realty Inc.Brokerage
Independently owned and operated

200 Matheson Blvd W Suite 202, Mississauga, ON L5R 3L7

Phone: 905-290-6777  Toll: 1-888-858-6777  Fax: 905-290-6799

      Not intended to solicit Buyers and Sellers currently under contract with any Brokerage    * Based on 2012 Sales Value,  Both Ends In Mississauga

 

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