Nov 18, 2013

TORONTO, Nov 18, 2013 -- Greater Toronto Area REALTORS reported 3,131 home transactions through the TorontoMLS system during the first fourteen days of Nov 2013. Over the same period, new lists were down by more than four percent. 

"The results for mid-November indicate that GTA homes remain ok with the expenses of home ownership," said Toronto Real Estate Board President Dianne Usher. 

"More consumers competing for a smaller number of listings has translated into an accelerating pace of price growth. This theme has been most abundant in the low-rise market segment, including single-detached and semi-detached houses and townhomes. Nevertheless it's critical to notice the condo apartment market has additionally become tighter," asserted Jason Mercer, TREB's Senior Manager of Market Research.

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TORONTO, Nov 6, 2013

TORONTO, Nov 6, 2013 -- Greater Toronto Area REALTORS reported 8,000 home sales through the TorontoMLS system in October 2013 up from 6,713 transactions reported in October 2012. Over the same period, new listings on the TorontoMLS system were down. 

"The GTA home ownership market has been broadly distinguished by a bounce in sales since the summer. Market conditions have been tighter in some market segments way more than others. Ground-oriented homes listed for below one million dollars in some areas of the GTA have been especially well-liked by buyers, while lists for these home types have been constrained," said Toronto Real-estate Board President Dianne Usher. 

"The supply of listings for many home types and price points has either been down year-over-year or at the very least not up by the same annual rate as sales. The additional Land Transfer Tax in the City of Toronto and the removal of the govt. guarantee on high ratio mortgages for home purchases over 1,000,000 $ have arguably led many homeowners not to list," continued Ms. Usher. 

The average selling price for TorontoMLS sales in October 2013 was $539,058 up by over 7 per cent in comparison to the average price of $502,127 in October 2012. The MLS Home Price Index ( MLS HPI ) Composite Benchmark was up by 4.5 % year-over-year. 

"Growth in the average selling price and the MLS HPI Composite Benchmark will continue through 2014. Inventory levels for ground-oriented home types will be low from a historic viewpoint and home ownership demand will stay powerful as cost remains under control due to the continuation of accommodative borrowing costs," said Jason Mercer, the Toronto Real estate Board's Senior Manager of Market Analysis.

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