GTA & Toronto Real Estate Statistics - December/Year-End 2012

January 4, 2013 - The Toronto Real Estate Board has released December 2012's reisdential MLS sales numbers which show that the trend of recent months continuined: a further softening in the number of homes sold, while average prices continued their rise.

December sales were off 19.5% versus December 2011: 3,690 this December; 4,585 in the year-earlier month.

Average selling price was $478,439 this December, up a solid 6.5% compared to last December's $449,566.

While the number of new listings fell 10% year-over-year, the number of total active listings was up a modest 2.9%.

The average "DOM", or Days on Market - an indication of the amount of time it takes for the average home to sell - rose 10.6% from 32 days to 36.

The number of detached homes selling fell about the same in the 416 and the 905, averaging 13.2% fewer sales.

Ditto for condos: The drop was about the same in both areas - but condos continued to lead the continued weakness overall with 26.7% fewer sales year-over-year.

With the number of sales continuing to soften and the length of time to sell a home rising, it's likely only a matter of time before this weakness begins to be reflected in prices...particularly if the number of active listings continues to rise on a year-over-year basis.

Yearly totals, 2012 compared to 2011, showed a drop in unit sales of about 3.9% [89,096 last year versus 85,731 in 2012] and a 6.9% rise in the average price [$465,014 a year earlier; $497,298 for 2012].

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Dec 18, 2018