Toronto Loft Conversions

Toronto Loft Conversions

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Modern Toronto Lofts

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Unique Toronto Homes

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Condos in Toronto

Condos in Toronto

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Toronto Real Estate

Toronto Real Estate

For all of your Toronto real estate needs, contact Laurin. I am dedicated to helping you find that perfect and unique new home to call your own.

 

Tag Archives: greater toronto

Toronto Real Estate NOT Slowing

GTA Realtors Release Mid-Month Resale Housing Figures

Greater Toronto Realtors reported 1,469 sales through the Toronto MLS system during the first two weeks of January 2013. This result represented an increase of 2.4% over the 1,435 transactions reported during the same period in 2012.

“The New Year started off on a positive note with residential sales slightly above last year’s levels,” said Toronto Real Estate Board (TREB) President Ann Hannah. “I am cautiously optimistic about this result. It will be important to watch sales trends closely as we move through the first quarter to see if some of the households who moved to the sidelines as a result of stricter lending guidelines are starting to renew their decision to purchase a home.”

Comment: It is looking like my hunch was right. Those that were cut off by the new mortgage rules have spent the past 6 months saving and are re-entering the market. I think there were also a bunch of people who bought into the hype and were waiting for prices to drop. When they didn’t, these buyers came back to the fold and are back in the market.

The average selling price during the first 14 days of 2013 was by up by 4% on a year-over-year basis to $459,728.

Comment: Another show of strength for the Toronto real estate market. A far cry from the 25% drop predicted by some…

“Continuing the trend from 2012, the low-rise segment of the market experienced the strongest price growth as competition between buyers remained quite strong,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The average selling price is expected to grow in 2013, but at a slower pace as buyers benefit from more choice.”

Summary of TorontoMLS Sales and Average Price January 1 – 14

City of Toronto (“416”)
2013 Sales: 531 | Avg Price: $464,228 | New Listings: 1,634
2012 Sales: 531 | Avg Price: $462,693 | New Listings: 1,571

Rest of GTA (“905”)
2013 Sales: 938 | Avg Price: $457,181 | New Listings: 2,604
2012 Sales: 904 | Avg Price: $430,308 | New Listings: 2,361

Entire GTA
2013 Sales: 1,469 | Avg Price: $459,728 | New Listings: 4,238
2012 Sales: 1,435 | Avg Price: $442,292 | New Listings: 3,932

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Contact Laurin Jeffrey for more information – 416-388-1960

Laurin Jeffrey is a Toronto Realtor with Century 21 Regal Realty. He did not
write these articles, he just reproduces them here for people who are
interested in Toronto real estate. He does not work for any builders.

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