Today Greater Toronto Area
REALTORS® reported 7,765 transactions through the TorontoMLS system in March
2013 – down 17 per cent compared to 9,385 transactions in March 2012. While the
year-over-year dip in March sales followed the trend that has unfolded since
mid-way through 2012. In the first quarter of 2013, sales amounted to 17,678 –
down by 14 per cent compared to Q1 2012.
The average selling price in March was $519,879 – up by 3.8 per cent compared to March 2012. The average price in Q1 2013 was $508,066 – up by 3.2 per cent compared to the first quarter of 2012.
"Home ownership remains affordable for a household earning the average income in the Greater Toronto Area. There are many willing buyers in the marketplace today.
The average selling price in March was $519,879 – up by 3.8 per cent compared to March 2012. The average price in Q1 2013 was $508,066 – up by 3.2 per cent compared to the first quarter of 2012.
TREB's average price forecast for 2013 remains at $515,000, representing a 3.5 per cent annual rate of growth," said Jason Mercer, TREB's Senior Manager of Market Analysis.
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