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Toronto's Housing Market in 2013
Greater Toronto Realtors reported 1,469 sales through the Toronto MLS® system during the first two weeks of January 2013. This result represented an increase of 2.4% over the 1,435 transactions reported during the same period in 2012.
"The New Year started off on a positive note with residential sales slightly above last year’s levels,” said Toronto Real Estate Board (TREB) President Ann Hannah. “I am cautiously optimistic about this result. It will be important to watch sales trends closely as we move through the first quarter to see if some of the households who moved to the sidelines as a result of stricter lending guidelines are starting to renew their decision to purchase a home.”
The average selling price during the first 14 days of 2013 was by up by four per-cent on a year-over-year basis to $459,728.
“Continuing the trend from 2012, the low-rise segment of the market experienced the strongest price growth as competition between buyers remained quite strong,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “The average selling price is expected to grow in 2013, but at a slower pace as buyers benefit from more choice.”
January 16, 2013 in Toronto Real Estate Market, Toronto Real Estate Trends, Toronto Real Estate Update | Permalink
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Comments
I read from the local ledger that there are more expected high rise to mid-rise residential infrastructures from local firms and several joint ventures of American companies. I wonder how these new venture will affect their pricing indexes?
Posted by: Evelyn A. Chamblee | Feb 13, 2013 9:44:50 PM
It just keeps going up and up. I'm wondering if the fear of a crash may create a crash of it's own.
Posted by: Douglas Beaudoin | Feb 11, 2013 3:45:32 PM
Well now the news is coming that market is going to slide 20%. is it true?
Posted by: RizMi - The Rug People | Feb 1, 2013 7:53:40 AM
Regardless of what the exact numbers are, revised or not, there's no question that things are starting to pick back up in the city. The appearance of several bidding wars within the GTA (canadianmortgagesinc.ca/index.php/theres-something-weird-happening-in-toronto-bidding-wars/) is evidence of that. The interesting thing will be to see whether or not the interest will carry over into the typically busy spring market.
Posted by: Bryan Jaskolka | Jan 26, 2013 8:17:19 PM
While 4% is certainly impressive, I'm going to wait and see how it all works out.
Posted by: Douglas Beaudoin | Jan 22, 2013 11:25:22 AM
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