GTA REALTORS® RELEASE MONTHLY RESALE HOUSING FIGURES
TORONTO, October 3, 2012 – Greater Toronto Area (GTA) REALTORS® reported 5,879 transactionsthrough the TorontoMLS system in September 2012. The average selling price for these transactions
was $503,662, representing an increase of more than 8.5 per cent compared to last year.
The number of transactions was down by 21 per cent in comparison to September 2011. However, it is
important to note that there were two fewer working days in September 2012 compared to September
2011. The majority of transactions are entered on working days. On a per working day basis, sales were
down by 12.5 per cent year-over-year.
“While sales have been lower due to stricter mortgage lending guidelines, we continue to see substantial
competition between buyers. The months of inventory trend remains low from a historic perspective,
which explains the strong price increases we are experiencing,” said Toronto Real Estate Board
President Ann Hannah.
September average selling prices were up compared to last year for all major home types. Price growth
was strongest in the City of Toronto, including condominium apartments with eight per cent year-overyear growth. All benchmark home types included in the MLS® Home Price Index (MLS® HPI)
experienced year-over-year price increases, with substantially stronger increases for low-rise home types.
“Barring a major change to the consensus economic outlook, home price growth is expected to continue
through 2013. Based on inventory levels, price growth will be strongest for low-rise home types, including
single-detached and semi-detached houses and town homes,” said TREB’s Senior Manager of Market
Analysis, Jason Mercer.
If you wish to get a full detailed market watch for Septemeber 2012, feel free to contact me!
Regards,
Zeenia Kola
Sales Representative with Re/Max Realty Specialists Inc., Brokerage
Email: zeenia@zeeniakola.com
Ph: 905-828-3434
Add: 2691 Credit Valley Rd, #101, Mississauga, L5M 7A1
Website: http://www.zeeniakola.com/
Thinking of selling your home in the next 1 or 2 months? For free and confidential Market Evaluation of your home click here!
Are you looking to buy your dream home. Contact me today!
No comments:
Post a Comment