GTA REALTORS® Release Mid-Month Release Figures
Posted by: Toronto Real Estate Admin / Category: Toronto Realtor
GTA REALTORS® RELEASE MID-MONTH
RESALE FIGURES
TORONTO,
July 18, 2012 — Greater Toronto REALTORS® reported 3,679 sales through the
first 14 days of July 2012, representing a 5.6 per cent increase compared
to the 3,484 sales reported for the same period in 2011. New listings were up by 14.4 per cent
over the same time frame.
“Housing
demand remained strong in the first half of July. Sales growth occurred in the regions surrounding
the City of Toronto. In the City
of Toronto, where sales were down, the relatively higher cost of home ownership
likely prompted some buyers to purchase elsewhere in the GTA. Higher costs in the City of Toronto include
the upfront payment of the additional land transfer tax,” said Toronto
Real Estate Board (TREB) President Ann Hannah.
The average
selling price in the first half of July was $473,466 – up by 2.3 per
cent compared to last year. On
average, homes sold for 98 per cent of the asking price in 25 days – in
line with July 2011. Price growth
was strongest in the City of Toronto, climbing by 3.5 per cent to $496,645.
“A
better supplied market contributed to a slower annual rate of price growth
in July relative to the first half of 2012,” said Jason Mercer, TREB’s
Senior Manager of Market Analysis. “As
buyers benefit from more choice in the second half of this year, expect price
growth to slow to a more sustainable pace.”
Summary of TorontoMLS Sales
and Average Price July 1 – 14
2012
2011
Sales
Average Price
New Listings
Sales
Average Price
New Listings
City
of Toronto (“416″)
1,300
$496,645
2,832
1,355
$479,843
2,502
Rest
of GTA (“905″)
2,379
$460,800
4,084
2,129
$452,307
3,546
GTA
3,679
$473,466
6,916
3,484
$463,017
6,048
TorontoMLS Sales Average Price By
Home Type July 1 – 14, 2012
Sales
Average Price
416
905
Total
416
905
Total
Detached
417
1,307
1,724
728,834
550,549
593,672
Yr./Yr. % Change
7%
3%
4%
0%
4%
3%
Semi-Detached
130
264
394
516,688
387,504
430,128
Yr./Yr. % Change
-8%
18%
8%
1%
4%
1%
Townhouse
149
499
648
417,824
359,358
372,802
Yr./Yr. % Change
-8%
45%
28%
6%
5%
4%
Condo
Apartment
591
242
833
349,730
277,441
328,729
Yr./Yr. % Change
-10%
4%
-6%
0%
-2%
-1%
For information about Buyer Representation Agreements
(BRA) visit www.BRAFirst.ca
For Media/Public Inquiries: Mary Gallagher, Senior
Manager Media Relations.
Toronto
Real Estate Board 1400 Don Mills Road Toronto, ON M3B 3N1, Office: (416)
443-8158, Email:maryg@trebnet.com
Greater Toronto REALTORS are passionate about their work.
They adhere to a strict Code of Ethics and share a state-of-the-art Multiple
Listing Service. Serving over 31,000 Members in the Greater Toronto Area,
the Toronto Real Estate Board is Canadas largest real estate board. Greater
Toronto Area open house listings are available on www.TorontoRealEstateBoard.com
Article source: http://www.torontorealestateboard.com/market_news/release_market_updates/news2012/nr_mid_month_0712.htm
Tags: Toronto Realtor