GTA REALTORS® Release Mid-Month Resale Figures
Posted by: Toronto Real Estate Admin / Category: Toronto Realtor
GTA REALTORS Release Mid-Month Resale Figures
September 18, 2012 — Greater Toronto Area (GTA) REALTORS reported 2,544 transactions through the TorontoMLS system in the first 14 days of September. This result was down by 15 per cent compared to the 2,995 sales reported during the same period in 2011.
The combination of stricter lending guidelines, rising home prices and the added upfront cost associated with the land transfer tax in the City of Toronto resulted in a slower pace of sales during the summer of 2012 compared to a year ago, said Toronto Real Estate Board (TREB) President Ann Hannah.
The average selling price for sales during the first two weeks of September was $496,786 representing an annual rate of increase of more the 9.5 per cent. Average selling prices were up for both low-rise and high-rise home types, including condominium apartments sold in the 416 area code.
Price growth continued to be strongest for low-rise home types during the first two weeks of September. This segment of the market has been very tight, with months of inventory remaining low from a historic perspective, said Jason Mercer, TREBs Senior Manager of Market Analysis.
TorontoMLS Sales
Average Price By Home Type September 1 – 14, 2012
Sales
Average Price
416
905
Total
416
905
Total
Detached
295
975
1,270
$805,308
$563,739
$619,851
Yr./Yr. % Change
-20%
-7%
-10%
17%
6%
9%
Semi-Detached
92
153
245
$603,700
$397,205
$474,746
Yr./Yr. % Change
-14%
-23%
-20%
24%
6%
15%
Townhouse
115
299
414
$406,521
$351,281
$366,625
Yr./Yr. % Change
-3%
-9%
-7%
5%
7%
7%
Condo Apartment
382
176
558
$352,851
$287,467
$332,228
Yr./Yr. % Change
-32%
-17%
-28%
5%
-2%
3%
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(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
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Article source: http://www.torontorealestateboard.com/market_news/release_market_updates/news2012/nr_mid_month_0912.htm
Tags: Toronto Realtor