Tighter Market Conditions Drive Strong Price Growth
December 4, 2013 — Greater Toronto Area REALTORS® reported 6,391 residential sales through the Toronto MLS system in November, representing a 13.9 per cent increase over the sales result for November 2012. Over the same period, new listings on Toronto MLS were down by 4.4 per cent and month-end active listings were down by 12.1 per cent.
The report shows the average selling price for November 2013 TorontoMLS transactions was $538,881 – up by 11.3 per cent in comparison to the average of $484,208 reported for November 2012. The MLS® Home Price Index (HPI) Composite Benchmark was up by 5.7 per cent over the same period.
“Growth in sales was strong for most home types in the Greater Toronto Area. Sales growth was led by the single-detached market segment followed by condominium apartments. Together, singles and condos accounted for almost three-quarters of total GTA transactions,” said Toronto Real Estate Board President Dianne Usher.
For the full report, please click here.
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