Friday 26 July 2013

July 16, 2013

July 16, 2013 -- Greater Toronto Area REALTORS reported 3,603 home sales through the TorontoMLS system during the first Fourteen days of July. This result represented a respectable increase of 2.2 per cent matched against the same period in 2012. Over the same time frame, the amount of new listings entered into TorontoMLS was down by two percent. 

"The 2nd half of 2013 began with tighter market conditions in the GTA home market. With sales up and new listings down, it is sensible the annual rate of price expansion sped up. This was especially the case for single-detached and semi-detached homes in the Town of Toronto, which remained in very short supply," announced Toronto Real estate Board President Dianne Usher. 

The average selling price for the 1st 14 days of July was $510,819 up by 8.1 per cent compared with $472,632 in the first part of July 2012. The condo flat segment continued to experience moderate average pricetag expansion. 

"Expect a quicker speed of average cost growth in the 2nd half 2013 compared with the 1st six months of the year. The strong demand and deficit of lists for low-rise home types in some neighbourhoods will continue to be the driver of price growth. An enhancement in conditions in the condominium residence market will also have a positive impact," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Wednesday 10 July 2013

TORONTO, July 4, 2013

TORONTO, July 4, 2013 -- Greater Toronto Area REALTORS reported 9,061 sales through the TorontoMLS system in June 2013 down by less than one % compared with June 2012. Over the same period, new lists were down by a greater rate than sales, suggesting market conditions became tighter. While the number of transactions was still down compared with 2012, rates of decline were significantly improved compared against the first quarter," said Toronto Real-estate Board President Dianne Usher. 

"As a growing number of home purchasers, many of whom put their purchase on hold due to stricter lending laws, now reactivate their search, the expectation is for renewed growth in home sales in the second 1/2 2013," added Ms. 

The average selling price in June was up by 4.7 per cent year-over-year to $531,374. Over the same period of time, average condominium residence selling costs remained in line with 2012 levels. 

"The short supply of low-rise home types in numerous parts of the GTA relative to the number of homes looking to buy continued to prompt powerful upward force on selling costs of singles and semis," said Jason Mercer, TREB's Senior Manager of Market Analysis. "We have also seen enough buyers in the better-supplied condo studio market to provide support for selling prices at current levels." 

Monday 8 July 2013

TORONTO, June 5, 2013 -- Greater Toronto Area REALTORS

TORONTO, June 5, 2013 -- Greater Toronto Area REALTORS reported 10,182 sales through the TorontoMLS system in May 2013, representing a dip of 3.4 percent compared against May 2012. Sales of single-detached homes in the GTA were up by almost one percent matched against the same period last year, including a three per cent year-over-year increase in the City of Toronto. 

"The sales picture in the GTA has improved markedly over the last 2 months. While the quantity of transactions in April and May stayed below last year's levels, the rate of decline has been much smaller. A growing number of homes who put their decision to purchase on hold due to tougher lending guidelines are starting to become active again in the ownership market," claimed Toronto Real-estate Board President Ann Hannah. The yearly rate of price growth was driven by the tight low-rise segment of the market and particularly by single-detached and semi-detached home transactions in the City of Toronto. 

The average selling price for May 2013 sales was $542,174 up by 5.4 per cent compared to $514,567 in May 2012. Average condominium apartment costs were also up barely compared with last year. 

The MLS Home Price Index ( HPI ) Composite Benchmark was up by 2.8 % year-over-year. 

"The annual rate of price growth in May was not surprising given the contest that still exists between consumers, especially for low-rise home types such as single-detached and semi-detached homes. We stay on track for a three-and-a-half % increase in the average selling price for 2013 as a whole," announced Jason Mercer, TREB's Senior Manager of Market Analysis.

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