GTA and Toronto Real Estate Statistics

GTA and Toronto Real Estate Statistics - May 2013

June 5, 2013 - The Toronto Real Estate Board today released the May, 2013 residential sales numbers which show a modest softening overall in terms of number of units sold, though sales of detached homes rose on a year-over-year basis.

Specifically, "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 year-over-year increase in the City of Toronto.
The sales picture in the GTA has improved markedly over the past two months. While the number of transactions in April and May remained below last year’s levels, the rate of decline has been much smaller."

The number of sales of detached homes rose, while sales of other housing types continued softening in both the 416 and the 905 - albeit at a slower rate than that of the first few months of 2013. Last month, sales of semi-detached homes fell 3.9%, though prices rose 4.1%. Sales of Townhouses fell 7.3%, though prices rose 2.3%. Sales of Condo Apartments fell 9.3%, though prices rose 1.6%. [All figures compared to year-earlier period. To see figures for prior months, please see posts below.]

Average selling price in the Detached sector rose 5.5% to $864,536 in the 416 and 4.3% to $602,576 in the 905 - an overall rise of 5.0% versus the year-prior period.

New Listings coming onto the market rose just 0.7% year-over-year, while the total number of active listings was up 10.8%.

Total Available ["Active"] listings of 22,677 divided by total sales of 10,182 for the month indicates a balanced market with about 2.23 months of available inventory.

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