GTA and Toronto Real Estate Statistics

GTA and Toronto Real Estate Statistics – December 2013

January 6, 2014 - The Toronto Real Estate Board today released the December, 2013 residential resale sales figures which showed that, despite some relatively slow months earlier in the year, the overall number of sales transactions for 2013 rose about two percent compared to 2012. The average sale price for the year as a whole was $523,036, up 5.2% from 2012.

As for the year-over-year figures, the total number of homes sold was up 13.8% to 4,078 compared to December 2012. The primary negative was Detached homes in the 416 area: December's 447 sales represented a 6.7% drop from December, 2012 - though the average selling price for this group rose 18.9% to $864,351.

In the 905 area, 1,360 Detached residences changed hands, up 12.6% year-over-year, and the average price of these homes rose 11.4% to $627,097.

The Condo Apartment sector continued it's robust rebound. In the 416, the number of units sold jumped 20.7% to 799; the average price of those units rising 7.6% to $367,376. In the 905, 374 Condo Apartments changed hands - an incredible 46.1% more than in December, 2012. The average price of those 905-area Condos rose 4.6% to $293,883.

Total residential sales - including all property types in all Toronto Real Estate Board areas - rose 13.8% to 4,078: A decent rise in activity compared to December, 2012, though a drop from the two prior Decembers. Weather may have been a factor to some degree...

Average prices were up 8.9% to $520,398 compared to the year-earlier month...and also up substantially from those two prior Decembers [the average price for December, 2010, just for the sake of interest, was $433,523].

I don't pay a lot of attention to the "New Listings" figures, as noted previously in this blog, but give more importance to the total Active Listings number. That figure shows a continuing contraction in available inventory: It fell again, by 13.8% to 11,418 residences available for sale compared to December last year. Based on total residences sold, this indicates a forward available inventory of 3.57 months. This "forward inventory" indicator may be somewhat of an anomaly, however, given that December is usually the slowest month of the year for real estate sales.

The average time it took to sell a home was 33 days in December 2013, down from 35 days [5.7% faster] compared to December 2012.

Set Up Your Own Customized SmartSearch
What's your property worth today?
JustBungalows.com Home Page
Questions? Comments? ...We'd to hear from you!

Browse GTA Bungalows by City / Region:

Browse "Beyond the GTA" Bungalows by City / Region: