TORONTO, January 6, 2014 — Greater Toronto Area REALTORS® reported 4,078 residential transactions through the TorontoMLS system in December 2013 – up by almost 14 per cent compared to 3,582 sales reported in December 2012. New listings entered into the TorontoMLS system were down by almost four per cent over the same period.

Total sales for calendar year 2013, at 87,111, were up by approximately two per cent compared to 85,496 transactions in calendar year 2012.

“After a slow start to the year, sales growth accelerated to a brisk pace in the second half of 2013. Despite the inclement weather in December, we finished the year with a respectable gain in transactions compared to 2012. Looking forward, I believe that home ownership in the GTA will remain affordable as borrowing costs stay low. The result could be a further increase in sales in 2014,” said Toronto Real Estate Board President Dianne Usher.

“The average selling price will be up again in 2014 and by more than the rate of inflation. The seller’s market conditions that drove price growth in the second half of 2013 will remain in place in many parts of the GTA. Some neighbourhoods, especially those characterized by low-rise home types like singles, semis and townhomes, will continue to have less than two months of inventory,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

The average selling price for December 2013 sales was $520,398 – up by 8.9 per cent compared to the average of $477,756 in December 2012.
The average selling price for 2013 as a whole was $523,036, which represented an increase of 5.2 per cent compared to the calendar year 2012 average of $497,130.

Source: Toronto Real Estate Board

December 17, 2013 — Greater Toronto Area REALTORS® reported 2,483 residential sales through the TorontoMLS system during the first two weeks of December 2013. This number of transactions represented an 18 per cent increase compared to 2,104 sales reported during the same period in 2012. The number of new listings entered into the TorontoMLS system was basically unchanged from a year ago.

“The key story in the GTA housing market continues to surround the availability of listings, or lack thereof. With the cost of home ownership remaining affordable, we have seen a resurgence in buying activity in the second half of 2013. However, growth in listings has not matched growth in sales. The result has been more buyers competing for fewer listings. This is why we continue to experience strong price growth,” said Toronto Real Estate Board President Dianne Usher.

The average selling price for December mid-month transactions was up 10 per cent to $520,379, compared to $471,602 reported for the first 14 days of December 2012.

“Inventory levels will remain low in many parts of the GTA in 2014, especially where low-rise home types are concerned, including single-detached and semi-detached houses and townhomes. Expect above-inflation price growth to continue next year,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.

Source: Toronto Real Estate Board

It’s either a sign that the housing market is healthy and resilient, or a sign of irrational exuberance along the way to a housing bubble.

Either way, Greater Toronto home sales and prices soared in November, according to the city’s real estate board, with prices jumping a breathtaking 11.3 per cent from the same month a year earlier. Read more

TORONTO, November 18, 2013 — Greater Toronto Area REALTORS® reported 3,131 residential transactions through the TorontoMLS system during the first two weeks of November 2013. This result represented a 21 per cent year-over-year increase compared to 2,582 sales reported during the same time frame in 2012. Over the same period, new listings were down by more than four per cent. Read more

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TORONTO, November 6, 2013 — Greater Toronto Area REALTORS® reported 8,000 home sales through the TorontoMLS system in October 2013 – up from 6,713 transactions reported in October 2012. Over the same period, new listings on the TorontoMLS system were down. Read more

TORONTO, October 3, 2013 — Greater Toronto Area REALTORS® reported 7,411 residential sales through the TorontoMLS system in September 2013, representing a 30 per cent increase compared to 5,687 transactions reported in September 2012. Read more

Royal LePage forecasts modest house price gains for remainder of 2013, as Canadian housing emerges from current market cycle Read more

TORONTO, July 4, 2013 — Greater Toronto Area REALTORS® reported 9,061 sales through the TorontoMLS system in June 2013 – down by less than one per cent compared to June 2012. Over the same period, new listings were down by a greater rate than sales, suggesting market conditions became tighter. Read more

TORONTO, June 5, 2013 — Greater Toronto Area (GTA) REALTORS® reported 10,182 sales through the TorontoMLS system in May 2013, representing a dip of 3.4 per cent compared to May 2012. Sales of single-detached homes in the GTA were up by almost one per cent compared to the same period last year, including a three per cent year-over-year increase in the City of Toronto. Read more