TORONTO, January 4, 2013 -- Greater Toronto Area REALTORS reported 3,690 sales through the TorontoMLS system in December 2012 down from 4,585 sales in December 2011. Total sales for 2012 amounted to 85,731 down from 89,096 transactions in 2011. "The number of transactions in 2012 was quite robust from a historic point of view. We saw powerful year-over-year growth in sales in the initial half of the year, but this growth was more than offset by sales falls in the 2nd half. Stricter mortgage lending guidelines resulted in some households postponing their acquisition of a home.
The average selling price in December 2012 was up by 6.5 per cent year-over-year to $478,739. The average selling price for 2012 as a whole was up by just about seven % to $497,298. Price expansion was strongest for low-rise houses, including singles, semis and townhouses.
"Robust annual rates of price expansion were reported thru most months of 2012. In spite of a dip in sales, market conditions remained tight for these home types with substantial competition between buyers," said TREB's Senior Chief of Market Analysis Jason Mercer.
No comments:
Post a Comment