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September Market Watch

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TORONTO, October 3, 2013 – Greater Toronto Area REALTORS® reported 7,411 residential sales through the TorontoMLS system in September 2013, representing a 30 per cent increase compared to 5,687 transactions reported in September 2012. Year-to-date, total residential sales reported through TorontoMLS amounted to 68,907 during the first nine months of 2013 – down by one per cent compared to the same period in 2012.

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September Market Watch

  1. 1. Get the latest real estate news and Market Watch information including market watch summary video twitter.com/TREBhome facebook.com/TorontoRealEstateBoard youtube.com/TREBChannel GTA REALTORS® RELEASE MONTHLY RESALE HOUSING FIGURES TORONTO, October 3, 2013 – Greater Toronto Area REALTORS® reported 7,411 residential sales through the TorontoMLS system in September 2013, representing a 30 per cent increase compared to 5,687 transactions reported in September 2012. Year- to-date, total residential sales reported through TorontoMLS amounted to 68,907 during the first nine months of 2013 – down by one per cent compared to the same period in 2012. “It’s great news that households have found that the costs of home ownership, including mortgage payments, remain affordable. This is why the third quarter was characterized by renewed growth in home sales in the GTA. We expect to see sales up for the remainder of 2013, as the pent-up demand that resulted from stricter mortgage lending guidelines continues to be satisfied,” said Toronto Real Estate Board President Dianne Usher. The average selling price for September transactions was $533,797 – up by 6.5 per cent year-over-year. Through the first three quarters of 2013, the average selling price was $520,118 – up by over four per cent compared to the first nine months of 2012. The MLS® Home Price Index composite benchmark for September was up by four per cent year-over-year. The annual rate of growth for the composite benchmark has been accelerating since the spring of 2013. “The price growth story in September continued to be about strong demand for low-rise home types, coupled with a short supply of listings. Even with slower price growth and month-to-month volatility in the condo apartment market, overall annual price growth has been well above the rate of inflation this year. This scenario will continue to play out through the remainder of 2013,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. Continued … NEWS RELEASE
  2. 2. PAGE 2 Get the latest real estate news and Market Watch information including market watch summary video twitter.com/TREBhome www.facebook.com/TorontoRealEstateBoard www.youtube.com/TREBChannel Summary of TorontoMLS Sales and Average Price September 1 - 30 2013 2012 Sales Average Price New Listings Sales Average Price New Listings City of Toronto ("416") 2,789 $571,410 5,994 2,185 $544,744 6,313 Rest of GTA ("905") 4,622 $511,100 8,944 3,502 $474,236 8,825 GTA 7,411 $533,797 14,938 5,687 $501,326 15,138 TorontoMLS Sales & Average Price By Home Type September 1 - 30, 2013 Sales Average Price 416 905 Total 416 905 Total Detached 972 2,717 3,689 856,169 608,866 674,027 Yr./Yr. % Change 31.7% 34.6% 33.9% 10.2% 7.1% 7.9% Semi-Detached 298 458 756 616,049 405,920 488,749 Yr./Yr. % Change 13.3% 25.5% 20.4% 1.9% 3.2% 1.5% Townhouse 291 877 1,168 455,518 388,727 405,368 Yr./Yr. % Change 18.3% 35.8% 30.9% 7.5% 11.5% 9.7% Condo Apartment 1,203 467 1,670 363,149 290,239 342,760 Yr./Yr. % Change 31.5% 22.3% 28.8% -3.7% 2.9% -1.8% Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 37,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada’s largest real estate board. Media Inquiries: Mary Gallagher, Senior Manager Public Affairs (416) 443-8158 maryg@trebnet.com -30-

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