SEPTEMBER 2012 RELEASE MID-MONTH RESALE FIGURES

GTA REALTORS® RELEASE MID-MONTH RESALE FIGURES

TORONTO, 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, TREB’s Senior Manager of Market Analysis.

 

If you require further details 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/
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August 2012 Market Update

Low-Rise Home Sales Drive August Price Growth

TORONTO, September 6, 2012 – Greater Toronto Area (GTA) REALTORS® reported 6,418 sales through the TorontoMLS system in August 2012, representing a year-over-decline of almost 12.5 per cent compared to 7,330 sales reported in August 2011. The number of new listings reported in August was down by 5.5 per cent compared to the same period in 2011.

"Residential transactions were down in August compared to last year. Stricter mortgage lending guidelines, which came into effect in July, arguably played a role. In the City of Toronto, the additional impact of relatively higher home prices coupled with the upfront cost associated with the City’s Land Transfer Tax led to a stronger annual decline in sales compared to the rest of the GTA," said Toronto Real Estate Board (TREB) President Ann Hannah.

The average selling price for August 2012 transactions was $479,095 – up by almost 6.5 per cent compared to August 2011. The annual rate of price growth was driven by the low-rise home segment in the City of Toronto, including single-detached homes with an average annual price increase of 15 per cent. The MLS® Home Price Index (MLS® HPI)* composite index, which allows for an apples-to-apples comparison of benchmark home prices from one year to the next, was up by 6.3 per cent year-over-year.

"While sales were down year-over-year in the GTA, so too were new listings. As a result, market conditions remained quite tight with substantial competition between buyers in the low-rise market segment," said Jason Mercer, TREB’s Senior Manager of Market Analysis. "The trends for sales and new listings are moving somewhat in synch, suggesting that the relationship between sales and listings will continue to promote price growth moving forward."

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/
Facebook
Linkedin

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!

Toronto Sale and Prices Up in the Month of May 2011

Greater Toronto REALTORS® Report May Resale Housing Market Figures TORONTO, June 3, 2011 – Greater Toronto REALTORS® reported 10,046 sales in May 2011 – up 6% compared to May 2010. This result was the second best on record for May under the current Toronto Real Estate Board service area. The number of new listings in May, at 16,076, was down 15% compared to last year.

“Positive economic news and low borrowing costs led to strong sales through the first five months of the year, including the increase in May,” said Toronto Real Estate Board President Bill Johnston. “At the same time, the market has become much tighter compared to last year, due to a substantial dip in new listings.”

Homes were on the market for an average of 23 days and sold for an average price of $485,520– up 9% compared to $446,593 in May 2010. The strongest rate of price growth was experienced for single-detached homes sold in the City of Toronto.

Jason Mercer, TREB's Senior Manager of Market Analysis also mentioned that in the past two to three months we have seen a clear-cut seller's market conditions emerge. Also the strong price appreciation that we have seen will hopefully prompt more households to sell their homes, resulting in a more balance market later this year.

Median Price
In May, the median price was $400,000, from the $376,750 recorded during May of 2010.

If you wish to get a detailed report by the Toronto Real Estate Board for the month of May, 2011 feel free to contact me and I will be happy to send it to you.

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/
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GTA Resale Housing Market Posts Best June on Record

This is the best news so far in the Real Estate Industry!!

The Greater Toronto REALTORS® reported a record 10,955 sales, up 27 per cent from June 2008. The seasonally adjusted annual rate of sales inJune was 100,700.1"The record result in June is testament to the fundamentally sound housing market in the GTA,"said the Toronto Real Estate Board’s newly appointed President Tom Lebour. "An increasingnumber of households have been confident in purchasing a home in the region’s affordable anddiverse resale housing market."The average price for June transactions was $403,972 – up by two per cent compared to thesame month last year."The re-emergence of seller’s market conditions has exerted upward pressure on home prices,"explained Jason Mercer, TREB's Senior Manager of Market Analysis. "Look for sales to remainhigh relative to listings in the second half of the year. This will keep home prices growing."

For a complete copy of the Market Watch visit http://www.zeeniakola.com/ShowResources.cfm?TypeOfPage=5&Page=1

or contact Zeenia Kola : 905-828-3434