By Ilan Joseph, Broker, ABR®, e-PRO®, AMP® | TopTorontoAgent.ca
February 5, 2012 | © All rights reserved
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January 2013 housing statistics for the Toronto Real Estate Board
Greater Toronto Area REALTORS® reported 4,375 transactions through the TorontoMLS system in January 2013. This number represented a slight decline compared to 4,432 transactions reported in January 2012.
“The January sales figures represent a good start to 2013. While the number of transactions was down slightly compared to last year, the rate of decline was much less than what was experienced in the second half of 2012. This suggests that some buyers, who put their decision to purchase on hold last year due to stricter mortgage lending guidelines, are once again becoming active in the market,” said Toronto Real Estate Board (TREB) President Ann Hannah.
“It is interesting to note that sales were up for many home types in the GTA regions surrounding the City of Toronto. This is due, at least in part, to the additional upfront land transfer tax in the City of Toronto,” added Ms. Hannah. The average selling price for January 2013 sales was $482,648 – up by 4.3 per cent compared to $462,655 in January 2012. The MLS® Home Price Index (HPI) Composite Benchmark price was up by 3.8 per cent over the same period. “There will be enough competition between buyers in the marketplace to prompt continued growth in home prices in 2013. Expect annual average price growth in the three to five per cent range this year,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 36,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada’s largest real estate board.| Summary of TorontoMLS Sales and Average Price January 1-31, 2013 | |||||||||||||
| 2013 | 2012 | ||||||||||||
| Sales | Average Price | New Listings | Sales | Average Price | New Listings | ||||||||
| City of Toronto ("416") | 1,559 | $507,859 | 4,207 | 1,667 | $498,534 | 4,015 | |||||||
| Rest of GTA ("905") | 2,816 | $468,691 | 6,417 | 2,765 | $441,024 | 5,583 | |||||||
| GTA | 4,375 | $482,648 | 10,624 | 4,432 | $462,655 | 9,598 | |||||||
| TorontoMLS Sales & Average Price By Home Type January 1-31, 2013 | |||||||||||||
| Sales | Average Price | ||||||||||||
| 416 | 905 | Total | 416 | 905 | Total | ||||||||
| Detached | 502 | 1,579 | 2,081 | 765,049 | 563,675 | 612,252 | |||||||
| Yr./Yr. % Change | -7.6% | 3.7% | 0.7% | 2.7% | 6.8% | 4.7% | |||||||
| Semi-Detached | 147 | 324 | 471 | 586,080 | 391,830 | 452,456 | |||||||
| Yr./Yr. % Change | -5.2% | 0.9% | -1.1% | 12.5% | 3.6% | 6.5% | |||||||
| Townhouse | 166 | 519 | 685 | 418,262 | 359,271 | 373,566 | |||||||
| Yr./Yr. % Change | -11.2% | 1.0% | -2.3% | 1.8% | 5.6% | 4.0% | |||||||
| Condo Apartment | 730 | 321 | 1,051 | 340,295 | 269,073 | 318,542 | |||||||
| Yr./Yr. % Change | -4.5% | -6.4% | -5.1% | -1.3% | -1.4% | -1.2% | |||||||
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Ilan Joseph is a Real Estate Broker with Sutton Group and is co-founder of a 10-person award-winning Toronto real estate team. You can find him on Twitter, YouTube and Google+. For over 10 years, Ilan has provided more than 1400 buyers and sellers valued advice and service, enabling them to reach their real estate goals. He’s kind of like the Bruce Willis of real estate.
