STRONG SALES AND PRICE GROWTH IN SEPTEMBER

 

 

 Greater Toronto Area REALTORS® reported 7,411 residential sales through the Toronto MLS system in September 2013, representing a 30 per cent increase compared to 5,687 transactions reported in September 2012. Year-to-date, total residential sales reported through Toronto MLS amounted to 68,907 during the first nine months of 2013 – down by one per cent compared to the same period in 2012.

 

“It’s great news that households have found that the costs of home ownership, including mortgage payments, remain affordable. This is why the third quarter was characterized by renewed growth in home sales in the GTA. We expect to see sales up for the remainder of 2013, as the pent-up demand that resulted from stricter mortgage lending guidelines continues to be satisfied,” said Toronto Real Estate Board President Dianne Usher.

 

The average selling price for September transactions was $533,797 – up by 6.5 per cent year-over-year. Through the first three quarters of 2013, the average selling price was $520,118 – up by over four per cent compared to the first nine months of 2012.

 

The MLS® Home Price Index composite benchmark for September was up by four per cent year-over-year. The annual rate of growth for the composite benchmark has been accelerating since the spring of 2013.

 

“The price growth story in September continued to be about strong demand for low-rise home types, coupled with a short supply of listings. Even with slower price growth and month-to-month volatility in the condo apartment market, overall annual price growth has been well above the rate of inflation this year. This scenario will continue to play out through the remainder of 2013,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 

 

 

 HOUSING MARKET PERFORMANCE

INDICATORS

SEPTEMBER     2012

SEPTEMBER 2013

% Change

Unit Sales

5,687

7,411

30.3%

New Listings

15,138

14,938

-1.3%

Active Listings

21,621

20,194

-6.6%

Days On Market

29

27

-4.8%

Average Price

$501.326

$533.797

6.5%

Source: Toronto Real Estate Board - OCTOBER 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

 

UA-12569613-1
Powered by Lone Wolf Real Estate Technologies (CMS6)