GTA and Toronto Real Estate Statistics

GTA and Toronto Real Estate Statistics - August 2013

September 5, 2013 - The Toronto Real Estate Board today released the August, 2013 sales figures which reflect continued strength in terms of both units sold and average prices compared to August, 2012, continuing the trend of recent months.

The overall average price rose 5.4% to $503,094 year-over-year, but was off 1.9% compared to July.

Active listings actually fell 1.3% versus the year-earlier period. [Note: While "New Listings" rose compared to August, 2012, bear in mind that this statistic has become somewhat unreliable given the growing trend toward "cancelling and re-listing" properties, either for pricing adjustments or simply to "refresh" the listing.]

Specifically, year-over-year, sales of Detached homes rose 23.0% in the 416 and 24.6% in the 905 for a combined total of +24.2%. Condo apartments continued their rebound, up 21.1% in the former and 16.9% in the latter for a combined +20.1%.

Average prices for the Detached group were up 4.7% in the 416 to $783,708, and 5.1% to 590,583 in the 905. The Condo Apartments were up 2.3% to 357,572 in the 416 and 7.1% to $293,825 in the 905.

The average time it took to sell rose by one day to 29, year-over-year.

Based on the total of 18,788 Active Listings on the market versus total sales of 7,569, the indicated "forward supply" stands at 2.48 months of inventory.

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