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Sales and Average Price Up in Calendar Year 2013

post template - Market Watch (Dec 2013)

Greater Toronto Area REALTORS® reported 4,078 residential transactions through the Toronto MLS system in December 2013 up by almost 14 per cent compared to 3,582 sales reported in December 2012. New listings entered into the Toronto MLS system were down by almost four per cent over the same period.

Total sales for calendar year 2013, at 87,111, were up by approximately two per cent  compared to 85,496 transactions in calendar year 2012.

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“After a slow start to the year, sales growth accelerated to a brisk pace in the second half of 2013. Despite the inclement weather in December, we finished the year with a respectable gain in transactions compared to 2012. Looking forward, I believe that home ownership in the GTA will remain affordable as borrowing costs stay low. The result could be a further increase in sales in 2014,” said Toronto Real Estate Board President Dianne Usher.

“The average selling price will be up again in 2014 and by more than the rate of inflation. The seller’s market conditions that drove price growth in the second half of 2013 will remain in place in many parts of the GTA. Some neighbourhoods, especially those characterized by low-rise home types like singles, semis and townhomes, will continue to have less than two months of inventory,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

The average selling price for December 2013 sales was $520,398 up by 8.9 per cent compared to the average of $477,756 in December 2012.

The average selling price for 2013 as a whole was $523,036, which represented an increase of 5.2 per cent compared to the calendar year 2012 average of $497,130.

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If you are looking for a Realtor to assist you with your real estate needs, give us a call, our team approach is the 'stonehenge of home selling'.  Our mission is to transform lives and create unforgettable client experiences through the business of real estate.

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Jackie Carron Home Selling Team
Keller Williams Neighbourhood Realty Inc. Brokerage
2968 Dundas St W, Suite 303
Toronto, Ontario
M6P 1Y8

Phone: 416-712-8840

 

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