Greater Toronto August 2013 Resale Housing Statistics

 

TORONTO, September 5, 2013 – Greater Toronto Area REALTORS® reported 7,569 residential transactions through the TorontoMLS system in August 2013. This represented a 21 per cent increase compared to 6,249 sales in August 2012.

“Sales were up strongly this past August for all major home types compared to last year. Many households have accounted for the added costs brought on by stricter mortgage lending guidelines and have reactivated their search for a home. These households have found that a diversity of affordable ownership options exist throughout the GTA,” said Toronto Real Estate Board President Dianne Usher.

The average selling price for August 2013 was $503,094 – up by almost 5.5 per cent compared to the average of $477,170 in August 2012. The MLS® Home Price Index (HPI) composite benchmark was up by 3.7 per cent over the same period.

“Despite an increase in borrowing costs during the spring and summer, an average priced home in the GTA has remained affordable for a household earning an average income. With this in mind, tight market conditions are expected to promote continued price growth through the remainder of 2013,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 

 

Summary of TorontoMLS Sales and Average Price August 2013

August  1 – 31

 

2013

2012

Sales

Average Price

Sales

Average Price

City of Toronto -416

2,665

$518,145

2,237

$496,927

Rest of GTA – 905

4,904

$494,914

4,012

$466,155

GTA

7,596

$503,094

6,249

$477,170

 August 1 – 31 2013

 Housing Styles

Sales

Average Price

416

905

Total

416

905

Total

Detached

846

2,789

3,635

$783,708

$590,583

$655,531

Yr/Yr % Change

23.0%

24.6%

24.2%

4.7%

5.1%

4.9%

Semi-Detached

231

536

767

$576,022

$409,302

$459,528

Yr/Yr % Change

7.4%

16.5%

13.6%

8.7%

5.1%

5.8%

Townhouse

285

938

1,223

$416,463

$374,494

$384,274

Yr/Yr % Change

12.6%

19.2%

17.6%

-0.8%

6.7%

4.5%

Condo Apartment

1,280

506

1,786

$357,572

$293,825

$339,512

Yr/Yr % Change

21.4%

16.9%

20.1%

2.3%

7.1%

3.7%

 

If you are looking for additional housing statistics which breaks down sales for Toronto east and Toronto central check out the following link.

Toronto East Monthly Statistics 2013

Toronto Central Monthly Statistics 2013