Thursday, October 04, 2012

GTA REALTORSR RELEASE MONTHLY RESALE HOUSING FIGURES

this is the latest report from TREB on the sales and average prices for
September


GTA REALTORS(r) RELEASE MONTHLY RESALE HOUSING FIGURES

TORONTO, October 3, 2012 - Greater Toronto Area (GTA) REALTORS(r) reported
5,879 transactions through 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-over-year growth. All
benchmark home types included in the MLS(r) Home Price Index (MLS(r) 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.

Mark

1 comment:

  1. Well this is an informative post..You had shared the GTA REALTORSR RELEASE MONTHLY RESALE HOUSING FIGURES..It feels glad to read all this information..

    ReplyDelete