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."
"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."
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