September 17, 2013 -- Greater Toronto Area REALTORS reported 3,158 transactions through the TorontoMLS system during the first 14 days of Sep 2013. This result was up by Twenty-nine % compared to September 2012. Sales were up for all the important home types on a year-over-year basis. The condo loft segment showed the way with robust sales expansion in the City of Toronto.
"The strong expansion in sales that we have seen during the last two-and-a-half months signifies that GTA homes are approaching home possession with a renewed sense of confidence.
The number of new lists entered into the TorontoMLS system was down barely compared with the same period in 2012. Powerful sales growth joined with a slight decrease in new lists points to increased competition between customers in some market segments and the continuation of above-inflation rates of price growth. The average selling price at mid-month Sep was up by four % on a yearly basis to $514,560.
"With months of inventory remaining low from a ground-breaking viewpoint and proof of tighter market conditions in the summer, the sole discussion that makes sense is for continuing home price growth in the Greater Toronto Area for the remainder of 2013," said Jason Mercer, TREB's Senior Manager of Market Analysis.
"The strong expansion in sales that we have seen during the last two-and-a-half months signifies that GTA homes are approaching home possession with a renewed sense of confidence.
The number of new lists entered into the TorontoMLS system was down barely compared with the same period in 2012. Powerful sales growth joined with a slight decrease in new lists points to increased competition between customers in some market segments and the continuation of above-inflation rates of price growth. The average selling price at mid-month Sep was up by four % on a yearly basis to $514,560.
"With months of inventory remaining low from a ground-breaking viewpoint and proof of tighter market conditions in the summer, the sole discussion that makes sense is for continuing home price growth in the Greater Toronto Area for the remainder of 2013," said Jason Mercer, TREB's Senior Manager of Market Analysis.
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