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Toronto Sales Up 14.5% in May
Greater Toronto Realtors reported 5,142 transactions through the TorontoMLS System during the first 14 days of May 2012. This result was up by more than 14.5 per cent in comparison to the first 14 days of May 2011. The number of new listings continued to grow at a slower pace than sales – up 13 per cent year-over-year to 8,749.
“Annual growth in sales was experienced across the GTA for all major home types in the first half of May. Sales growth was strongest for the condominium apartment segment. While the condo market has generally been the best supplied market over the past year, we have continued to see enough demand to exert moderate upward pressure on average selling prices in this market segment,” said Toronto Real Estate Board President Richard Silver.
The average selling price for transactions in the first 14 days of May was $517,242 – up by six per cent compared to the same period in 2011.
“A shortage of listings in the low-rise segment of the market has resulted in a lot of competition between buyers and above average annual rates of price growth. Tight market conditions are expected to remain in place for the balance of 2012,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
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Summary of TorontoMLS Sales and Average Price |
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May 1 - 14 |
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2012
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2011 |
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Sales |
Average Price |
Sales |
Average Price |
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City of Toronto ("416") |
1,959 |
$572,159 |
1,763 |
$547,659 |
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Rest of GTA ("905") |
3,183 |
$483,443 |
2,725 |
$448,126 |
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GTA
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5,142
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$517,242
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4,488
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$487,225
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TorontoMLS Sales & Average Price By Home Type
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May 1 - 14, 2012 |
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Sales |
Average Price |
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416 |
905 |
Total |
416 |
905 |
Total |
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Detached |
691 |
1,832 |
2,523 |
835,522 |
576,845 |
647,692 |
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Yr./Yr. % Change |
6% |
17% |
14% |
5% |
8% |
6% |
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Semi-Detached |
225 |
343 |
568 |
595,962 |
401,779 |
478,700 |
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Yr./Yr. % Change |
2% |
13% |
8% |
8% |
12% |
9% |
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Townhouse |
238 |
590 |
828 |
465,499 |
359,475 |
389,951 |
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Yr./Yr. % Change |
17% |
17% |
17% |
15% |
5% |
8% |
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Condo Apartment |
784 |
326 |
1,110 |
370,224 |
291,673 |
347,154 |
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Yr./Yr. % Change |
18% |
18% |
18% |
4% |
9% |
5% |
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May 16, 2012 | Permalink
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Comments
Well the condo market has generally been the best supplied market over the past year..Thanks for sharing the Sales & Average Price of TorontoMLS,it will be helpful..
Posted by: Vaughan Homes for Sale | Aug 29, 2012 6:56:06 AM
Thanks for sharing.
Posted by: Living Arts Condos | Aug 15, 2012 10:29:46 AM
The above content is informative and helpful. I would like to tell you about the world market that global real estate market has start to rise again after the economic downfall, which is a positive sign for investors, real estate agents and developers.this is the right time to invest because the prices are comparatively low from the past prices, but these prices will be increased in lesser span of time.
Posted by: Iftikhar Anjum | Jun 21, 2012 7:28:08 AM
Great post! I'm not sure how to reach the webmaster of this blog but I'm hoping if you can please kindly correct the broken link for Seattle Condo Review (http://www.seattlecondoreview.com) in the "Real Estate Blogs" section on this site. It will be much appreciated. Thank you!
Posted by: Seattle Condos | Jun 14, 2012 1:56:18 AM
That's Great! I hope this trend continues on the upward flow and spreads to other province's. Way to go Toronto!
Posted by: RE/MAX Bahamas Real Estate | May 30, 2012 2:44:58 PM
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