Company News: Page (1) of 1 - 07/18/12 Email this story to a friend. email article Print this page (Article printing at MyDmn.com).print page facebook

GTA REALTORS(R) Release Mid-Month Resale Figures

(July 18, 2012)

TORONTO, ONTARIO -- (Marketwire) -- 07/18/12 -- Greater Toronto REALTORS reported 3,679 sales through the first 14 days of July 2012, representing a 5.6 per cent increase compared to the 3,484 sales reported for the same period in 2011. New listings were up by 14.4 per cent over the same time frame.

"Housing demand remained strong in the first half of July. Sales growth occurred in the regions surrounding the City of Toronto. In the City of Toronto, where sales were down, the relatively higher cost of home ownership likely prompted some buyers to purchase elsewhere in the GTA. Higher costs in the City of Toronto include the upfront payment of the additional land transfer tax," said Toronto Real Estate Board (TREB) President Ann Hannah.

The average selling price in the first half of July was $473,466 - up by 2.3 per cent compared to last year. On average, homes sold for 98 per cent of the asking price in 25 days - in line with July 2011. Price growth was strongest in the City of Toronto, climbing by 3.5 per cent to $496,645.

"A better supplied market contributed to a slower annual rate of price growth in July relative to the first half of 2012," said Jason Mercer, TREB's Senior Manager of Market Analysis. "As buyers benefit from more choice in the second half of this year, expect price growth to slow to a more sustainable pace."


Summary of TorontoMLS Sales and Average Price July 1 - 14 ---------------------------------------------------------------------------- 2012 2011 ----------------------------------------------------------- Average New Average New Sales Price Listings Sales Price Listings City of Toronto ("416") 1,300 $ 496,645 2,832 1,355 $ 479,843 2,502 Rest of GTA ("905") 2,379 $ 460,800 4,084 2,129 $ 452,307 3,546 GTA 3,679 $ 473,466 6,916 3,484 $ 463,017 6,048 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- TorontoMLS Sales & Average Price By Home Type July 1 - 14, 2012 Sales Average Price 416 905 Total 416 905 Total ---------------------------------------------------------------- Detached 417 1,307 1,724 728,834 550,549 593,672 Yr./Yr. % Change 7% 3% 4% 0% 4% 3% Semi- Detached 130 264 394 516,688 387,504 430,128 Yr./Yr. % Change -8% 18% 8% 1% 4% 1% Townhouse 149 499 648 417,824 359,358 372,802 Yr./Yr. % Change -8% 45% 28% 6% 5% 4% Condo Apartment 591 242 833 349,730 277,441 328,729 Yr./Yr. % Change -10% 4% -6% 0% -2% -1% ---------------------------------------------------------------------------- ----------------------------------------------------------------------------

Greater Toronto REALTORS are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 34,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada's largest real estate board.

Get the latest real estate news and Market Watch information including market watch summary video: www.TorontoRealEstateBoard.com.

Contacts:
Media Inquiries:
Mary Gallagher
Senior Manager Public Affairs
(416) 443-8158
maryg@trebnet.com
www.TorontoRealEstateBoard.com

www.twitter.com/TREBhome
www.facebook.com/TorontoRealEstateBoard
www.youtube.com/TREBChannel


Copyright @ Marketwire

Page: 1


Related Keywords: Toronto Real Estate Board , Marketwire,

HOT THREADS on DMN Forums
Content-type: text/html  Rss  Add to Google Reader or
Homepage    Add to My AOL  Add to Excite MIX  Subscribe in
NewsGator Online 
Real-Time - what users are saying - Right Now!

Our Privacy Policy --- @ Copyright, 2015 Digital Media Online, All Rights Reserved