Toronto Real Estate Sales Statistics

Toronto Real Estate Sales Statistics - August 2012

September 5, 2012 - August, 2012 market statistics were released today by the Toronto Real Estate Board showing that while average prices rose 6.4% over August, 2011, the number of homes sold fell 12.5% year-over-year [6,418 vs. 7,330].

New listings in August were down 5.5%.

Average sale price $479, 095 versus August, 2011's $450,323.

The only rise in unit sales was that of townhouses in the "905" area code which were up 6% year-over-year.

Interestingly, condo apartments were again hit very hard - in both the 416 and the 905 - falling 22% versus the year-prior period... that drop on top of a 10% decline in July, 2012 versus July, 2011. Prices held relatively steady, though, falling 2% year-over year after a 1% decline last month versus the prior year.

While, as noted above, unit sales fell for all types and in all areas other than the 905 townhomes, average selling prices rose for all types other than the condo apartments. The strongest price increases were in the 416 where detached home prices rose 15% [7% in the 905], while semi-detached and townhome prices both rose 11% [both rose 4% in the 905].

The time it took to sell a home in the GTA remained steady at 28 days this August versus 27 days a year earlier.

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