GTA REALTORS(R) Release Housing Figures

October 16, 2013 -- Greater Toronto Area REALTORS reported 3,460 sales through the TorontoMLS system in the first 14 days of October 2013. This result was up by Twenty-one percent in comparison to 2,849 sales reported during the same period in 2012. October mid-month sales were also up by Thirteen per cent compared with the 10-year average.  "With October mid-month sales well-above the Ten year average, it appears clear that we have more than recovered from the temporary dip in home transactions that resulted from the beginning of stricter mortgage lending guidelines," said Toronto Real estate Board President Dianne Usher. If this were not correct, the amount of sales might have been larger because more homes would've been able find a home to purchase," continued Ms. There have been more buyers competing for available properties compared to the initial half of the year, that has led straight to increased upward pressure on average selling prices," said Jason Mercer, the Toronto Real estate Board's Senior Manager of Market Analysis. www.tomsmok.com www.tomsmok.wordpress.com www.tomsmok.blogspot.com

TORONTO, October 3, 2013

TORONTO, October 3, 2013 -- Greater Toronto Area REALTORS reported 7,411 home sales through the TorontoMLS system in September 2013, representing a Thirty % increase compared with 5,687 transactions reported in September 2012. YTD, total home sales reported through TorontoMLS amounted to 68,907 during the first nine months of 2013 down by one % compared to the same period in 2012. 

"It's superb news that homes have found that the costs of home possession, including home loan payments, remain cheap. 

The average selling price for Sep transactions was $533,797 up by 6.5 % year-over-year. This is why the third quarter was identified by replenished growth in home sales in the GTA. Through the 1st 3 quarters of 2013, the average selling price was $520,118 up by over four percent compared to the 1st 9 months of 2012. 

The MLS Home Price Index composite baseline for September was up by four % year-over-year. The annual rate of expansion for the composite baseline has been accelerating since the spring of 2013. 

"The price growth story in Sep continued to be about strong requirement for low-rise home types, coupled with a short supply of listings. Even with slower price expansion and month-to-month volatility in the condo flat market, overall yearly price growth has been well above the rate of inflation this year. This scenario may continue to play out through what's left of 2013," said Jason Mercer, TREB's Senior Manager of Market Research.

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