This is the mid-month report from the Toronto Real Estate board with regards
to sales figures
In summary:
* transactions for first two weeks of 2014 are down approximately 8%
compared to first two weeks of 2013
* new listings were down about 20%
* average selling price was up by about 12% compared to same period
1 year ago
See full report and statistics below.
Mark
GTA REALTORS(r) RELEASE MID-MONTH RESALE HOUSING FIGURES
TORONTO, January 17, 2014 -
Greater Toronto Area REALTORS(r) reported 1,287 transactions through the
TorontoMLS system during the first two weeks of 2014. This result was down
by approximately eight per cent compared to 1,396 sales reported during the
same period in 2013.
New listings entered into the system were down by a greater 20 per cent
year-over-year.
"The expectation is that home sales through the TorontoMLS System will be up
in 2014. This is because the cost of purchasing an average priced home,
including mortgage payments, property taxes and utilities, will remain
affordable for a household earning the average income in the GTA," said
Toronto Real Estate Board President Dianne Usher.
"Aside from the fact that January sales from year-to-year tend to be
volatile, the dip in sales during the first two weeks in January was likely
due in large part to a lack of new listings. Quite simply, some would be
home buyers could not find a home that met their needs," continued Ms.
Usher.
The average selling price for the first 14 days of January 2014 was $515,990
- up by 12 per cent compared to the average price reported for the same
timeframe in 2013.
"The average selling price in the GTA will continue to trend upward in 2014.
Listings will remain below the pre-recession peak and sales are expected to
increase over 2013. This means that we will continue to see substantial
competition between buyers for some home types and in some areas of the
GTA," said Jason Mercer, TREB's Senior Manager of Market Analysis.
I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
BUS 905-828-3434
FAX 905-828-2829 CELL 416-520-1577
mark@mississauga4sale.com
Mississauga4Sale.com
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Monday, January 20, 2014
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