TORONTO, December 4, 2013 -- Greater Toronto Area REALTORS reported 6,391 residential sales through the TorontoMLS system in November, representing a 13.9 % increase over the sales result for November 2012. Over the same period, new listings on TorontoMLS were down by 4.4 % and month-end active listings were down by 12.1 %.
"Growth in sales was strong for most home types in the Greater Toronto Area. Sales growth was controlled by the single-detached market segment followed by condo flats. Together, singles and apartments accounted for nearly three-quarters of total GTA transactions," said Toronto Real Estate Board President Dianne Usher.
"With National Housing Day having just passed, housing cost is top of mind in the GTA and indeed nationally. Usher. The MLS Home Price Index ( HPI ) Composite Benchmark was up by 5.7 per cent over the same period.
"Whether we consider the average TorontoMLS selling price or the MLS HPI Composite Benchmark, annual home price growth remained well-above the rate of inflation in November. This appears sensible given the undeniable fact that competition between customers increased last month. Transactions were up strongly year-over-year while the quantity of homes available for sale was down," said Jason Mercer, TREB's Senior Manager of Market Analysis.
"Growth in sales was strong for most home types in the Greater Toronto Area. Sales growth was controlled by the single-detached market segment followed by condo flats. Together, singles and apartments accounted for nearly three-quarters of total GTA transactions," said Toronto Real Estate Board President Dianne Usher.
"With National Housing Day having just passed, housing cost is top of mind in the GTA and indeed nationally. Usher. The MLS Home Price Index ( HPI ) Composite Benchmark was up by 5.7 per cent over the same period.
"Whether we consider the average TorontoMLS selling price or the MLS HPI Composite Benchmark, annual home price growth remained well-above the rate of inflation in November. This appears sensible given the undeniable fact that competition between customers increased last month. Transactions were up strongly year-over-year while the quantity of homes available for sale was down," said Jason Mercer, TREB's Senior Manager of Market Analysis.
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