Greater Toronto Area (GTA) REALTORS® reported 10,182 sales through the TorontoMLS system in May 2013, representing a dip of 3.4 per cent compared to May 2012.
Sales of single-detached homes in the GTA were up by almost one per cent compared to the same period last year, including a three per cent yearover-year increase in the City of Toronto.
The average selling price for May 2013 sales was $542,174 – up by 5.4 per cent in
comparison to $514,567 in May 2012. The annual rate of price growth was driven by the
tight low-rise segment of the market and particularly by single-detached and semidetached home transactions in the City of Toronto. Average condominium apartment
prices were also up slightly in comparison to last year.
The MLS® Home Price Index (HPI) Composite Benchmark was up by 2.8 per cent yearover-year.
“The annual rate of price growth in May was not surprising given the competition that
still exists between buyers, particularly for low-rise home types such as single-detached
and semi-detached houses. We remain on track for a three-and-a-half per cent increase
in the average selling price for 2013 as a whole,” said Jason Mercer, TREB’s Senior
Manager of Market Analysis
The average selling price for May 2013 sales was $542,174 – up by 5.4 per cent in
comparison to $514,567 in May 2012. The annual rate of price growth was driven by the
tight low-rise segment of the market and particularly by single-detached and semidetached home transactions in the City of Toronto. Average condominium apartment
prices were also up slightly in comparison to last year.
The MLS® Home Price Index (HPI) Composite Benchmark was up by 2.8 per cent yearover-year.
“The annual rate of price growth in May was not surprising given the competition that
still exists between buyers, particularly for low-rise home types such as single-detached
and semi-detached houses. We remain on track for a three-and-a-half per cent increase
in the average selling price for 2013 as a whole,” said Jason Mercer, TREB’s Senior
Manager of Market Analysis
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