TORONTO, February 5, 2013 -- Greater Toronto Area REALTORS reported 4,375 transactions through the TorontoMLS system in Jan 2013. This number represented a slight decline compared to 4,432 transactions reported in Jan 2012. While the number of transactions was down a touch compared against last year, the rate of decline was much less than what was experienced in the 2nd half of 2012.
"The Jan sales stats represent a great start to 2013.
"It is fascinating to note that sales were up for many home types in the GTA regions surrounding the Town of Toronto. This suggests that some purchasers, who put their decision to get on hold last year due to tougher mortgage lending guiding principles, are once again becoming active in the market," said Toronto Property Board ( TREB ) President Ann Hannah. This is due, at least in part, to the additional up front land transfer tax in the City of Toronto," added Ms.
The average selling price for Jan 2013 sales was $482,648 up by 4.3 percent compared with $462,655 in January 2012.
Greater Toronto REALTORS are devoted to their work. Expect annual average price growth in the 3 to five per cent range this year," said Jason Mercer, TREB's Senior Boss of Market Analysis. They are ruled by a tough Code of Ethics and share a up-to-the-minute Multiple Listing Service. Over 36,000 TREB Members serve customers in the Greater Toronto Area. The Toronto Real Estate Board is Canada's largest real estate board.
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