TORONTO, December 4, 2013 — Greater Toronto Area REALTORS reported 6,391 residential sales through the TorontoMLS system in November, representing a 13.9 per cent increase over the sales result for November 2012. Over the same period, new lists on TorontoMLS were down by 4.4 % and month-end active listings were down by 12.1 percent. Sales growth was led by the single-detached market segment followed by condo flats.
"Growth in sales was strong for most home types in the Greater Toronto Area.
"With National Housing Day having just passed, housing cost is top of mind in the GTA and indeed nationally. Together, singles and apartments accounted for nearly three-quarters of total GTA transactions," recounted Toronto Real Estate Board President Dianne Usher. Usher.
The average selling price for November 2013 TorontoMLS transactions was $538,881 up by 11.3 % in comparison to the average of $484,208 reported for Nov 2012. This makes sense given the undeniable fact that competition between buyers increased last month. The MLS Home Price Index ( HPI ) Composite Benchmark was up by 5.7 percent over the same period. Transactions were up strongly year-over-year while the number of homes available for sale was down," said Jason Mercer, TREB’s Senior Manager of Market Analysis.