GTA and Toronto Real Estate Statistics

GTA and Toronto Real Estate Statistics - February 2013

March 5, 2013 - The Toronto Real Estate Board this morning released the Toronto and GTA MLS® sales figures which show a continuation of the trend of past months, namely a softening in the number of homes sold but a rise in average prices.

The slowing in the number of units sold was relatively consistent across the GTA, and prices rose in all areas with the exception of the 416 Condo Apartment sector. It's also worth noting that Detached Homes in the 416 were, essentially, flat in terms of average price.

416 Condo Apartment unit sales fell 20% versus February 2012, and prices for that sector in the 416 fell 4.7%. In the 905, unit sales fell 20.7%, but prices rose 4.3%.

As for Detached Homes, unit sales fell 16.9% in the 416 and 15.8% in the 905, while prices rose just 0.1% in the 416 and 3.4% in the 905. Overall, unit sales of all types in all GTA areas fell 15.4%, though taking into account the extra day in February 2012 [Leap Year], the "adjusted" figure was - 10.5% based on the 28 day comparison.

Average sale prices this February were $823,329 and $582,777 in the 416 and the 905 respectively, for an overall average of $647,728 - up 2.2% compared to the year-earlier period.

The average price for all home types in all areas of the GTA was $510,580, up 2.1% year-over-year.

New listings fell 12.2%, though total Active Listings rose 9.8%.

The average time it took to sell a home rose from 24 days in February 2012 to 28 days in February 2013.

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