Wednesday 15 January 2014

January 6, 2014

TORONTO, January 6, 2014 -- Greater Toronto Area REALTORS reported 4,078 home transactions through the TorontoMLS system in December 2013 up by virtually 14 % compared against 3,582 sales reported in December 2012. New lists entered into the TorontoMLS system were down by just about 4 percent over the same period. 

Total sales for calendar year 2013, at 87,111, were up by approximately 2 percent compared against 85,496 transactions in calendar year 2012. 

"After a slow start to the year, sales growth accelerated to a brisk pace in the second half 2013. Despite the inclement weather in December, we finished the year with a respectable gain in transactions compared with 2012. Looking forward, I think that home ownership in the GTA will remain cost-effective as borrowing costs stay low. The result may be a further increase in sales in 2014," said Toronto Real estate Board President Dianne Usher. Some neighbourhoods, especially those indicated by low-rise home types like singles, semis and townhomes, may continue to have less than 2 months of inventory," expounded Jason Mercer, TREB's Senior Manager of Market Analysis. 

The average selling price for December 2013 sales was $520,398 up by 8.9 percent compared against the average of $477,756 in December 2012. 
The average selling price for 2013 in total was $523,036, which represented an increase of 5.2 % compared with the calendar year 2012 average of $497,130.

Monday 6 January 2014

TORONTO, January 6, 2014

TORONTO, January 6, 2014 -- Greater Toronto Area REALTORS reported 4,078 home transactions through the TorontoMLS system in December 2013 up by just about Fourteen % matched against 3,582 sales reported in December 2012. New lists entered into the TorontoMLS system were down by virtually four per cent over the same period. 

"After a slow start to the year, sales growth accelerated to a brisk pace in the second half of 2013. In spite of the unpleasant weather in December, we finished the year with a respectable gain in transactions compared with 2012. 

"The average selling price will be up again in 2014 and by over the rate of inflation. Looking forward, I think that home possession in the GTA will remain cost-effective as borrowing costs remain low. The seller's market conditions that drove price expansion in the 2nd 1/2 2013 will remain in place in numerous parts of the GTA. Some neighbourhoods, particularly those identified by low-rise home types like singles, semis and townhomes, will continue to have less than two months of inventory," related Jason Mercer, TREB's Senior Manager of Market Analysis. 
The average selling price for 2013 as a whole was $523,036, which represented an increase of 5.2 percent compared to the calendar year 2012 average of $497,130.

 

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