September 17, 2013

September 17, 2013 — Greater Toronto Area REALTORS reported 3,158 transactions through the TorontoMLS system during the first Fourteen days of Sep 2013. This result was up by Twenty-nine per cent contrasted to September 2012. Sales were up for all major home types on a year-over-year basis. The condominium loft segment showed the way with powerful sales expansion in the Town of Toronto.

The quantity of new listings entered into the TorontoMLS system was down slightly compared with the same period in 2012.

"The powerful growth in sales that we have seen over the last two-and-a-half months indicates that GTA homes are approaching home ownership with a replenished sense of confidence. The average selling price at mid-month Sep was up by four % on an annual basis to $514,560.

"With months of inventory remaining low from an unprecedented point of view and evidence of tighter market conditions in the summer, the only argument that seems sensible is for continual home price expansion in the Greater Toronto Area for the rest of 2013," said Jason Mercer, TREB’s Senior Manager of Market Analysis.