1. For All TREB Member Inquiries:
(416) 443-8152
For All Media/Public Inquiries:
September 2012 (416) 443-8158
Economic Indicators Strong Average Price Growth in September TorontoMLS Sales Activity1,7
TORONTO, October 3, 2012 – Greater Toronto Area (GTA) REALTORS® reported 5,879
Real GDP Growthi transactions through the TorontoMLS system in September 2012. The average selling
Q2 2012 t 1.8% price for these transactions was $503,662, representing an increase of more than 8.5 per
cent compared to last year.
Toronto Employment Growthi i The number of transactions was down by 21 per cent in comparison to September 2011.
August 2012 t 1.6% However, it is important to note that there were two fewer working days in September 7,422
2012 compared to September 2011. The majority of transactions are entered on working 5,879
Toronto Unemployment Rate days. On a per working day basis, sales were down by 12.5 per cent year-over-year.
August 2012 q 8.5% “While sales have been lower due to stricter mortgage lending guidelines, we continue to
ii see substantial competition between buyers. The months of inventory trend remains low
Inflation (Yr./Yr. CPI Growth) from a historic perspective, which explains the strong price increases we are
August 2012 u 1.2% experiencing,” said Toronto Real Estate Board (TREB) President Ann Hannah. September 2012 September 2011
iii September average selling prices were up compared to last year for all major home
Bank of Canada Overnight Rate types. Price growth was strongest in the City of Toronto, including for condominium
September 2012 q 1.0% apartments with eight per cent year-over-year growth. All benchmark home types TorontoMLS Average Price1,7
included in the MLS® Home Price Index (MLS® HPI) experienced year-over-year price
iv
Prime Rate increases, with substantially stronger increases for low-rise home types.
September 2012 q 3.0% “Barring a major change to the consensus economic outlook, home price growth is
iv
expected to continue through 2013. Based on inventory levels, price growth will be
Mortgage Rates (Sept. 2012) strongest for low-rise home types, including single-detached and semi-detached houses
$503,662
$463,916
Chartered Bank Fixed Rates and town homes,” said TREB’s Senior Manager of Market Analysis, Jason Mercer.
1 Year q 3.10%
1,7
3 Year u 3.85% Sales & Average Price By Major Home Type
5 Year q 5.24%
September 2012
Sources and Notes: Sales Average Price
i
Statistics Canada, Quarter-over-quarter 416 905 Total 416 905 Total September 2012 September 2011
growth, annualized
Detached 767 2,097 2,864 $781,826 $570,523 $627,111
ii
Statistics Canada, Year-over-year growth 1,7
for the most recently reported month
Yr./Yr. % Change -27% -16% -19% 10% 8% 8% Year-Over-Year Summary
Semi-Detached 273 379 652 $604,963 $394,265 $482,487 2012 2011 % Chg.
iii
Bank of Canada, Rate from most recent
Yr./Yr. % Change -15% -23% -20% 16% 7% 12% Sales 5,879 7,422 -20.8%
Bank of Canada announcement
iv
Townhouse 258 662 920 $423,732 $349,332 $370,196 New Listings 15,220 14,629 4.0%
Bank of Canada, Rates for most recently
completed month Yr./Yr. % Change -17% -15% -16% 7% 5% 6% Active Listings 21,621 18,793 15.0%
Condo Apartment 934 395 1,329 $377,422 $283,321 $349,454 Average Price $503,662 $463,916 8.6%
Yr./Yr. % Change -29% -22% -27% 8% 1% 6% Average DOM 28 27 6.3%
2. Toronto Real Estate Board
SALES BY PRICE RANGE AND HOUSE TYPE1,7 SEPTEMBER 2012
Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total
$0 to $99,999 2 0 2 3 13 0 1 0 0 21
$100,000 to $199,999 49 8 6 44 166 0 3 0 2 278
$200,000 to $299,999 230 48 70 178 429 20 2 2 5 984
$300,000 to $399,999 454 189 133 192 417 28 0 2 1 1,416
$400,000 to $499,999 523 216 125 40 154 19 0 1 0 1,078
$500,000 to $599,999 504 89 49 15 64 22 0 0 0 743
$600,000 to $699,999 313 30 30 9 41 3 0 0 0 426
$700,000 to $799,999 248 28 6 2 11 2 0 0 0 297
$800,000 to $899,999 164 18 3 2 10 0 0 0 0 197
$900,000 to $999,999 82 7 3 1 3 0 0 0 0 96
$1,000,000 to $1,249,999 126 8 4 2 7 0 0 0 0 147
$1,250,000 to $1,499,999 64 3 0 0 3 0 0 0 0 70
$1,500,000 to $1,749,999 33 4 1 0 3 0 0 1 0 42
$1,750,000 to $1,999,999 19 2 0 0 3 0 0 0 0 24
$2,000,000 + 53 2 0 0 5 0 0 0 0 60
Total Sales 2,864 652 432 488 1,329 94 6 6 8 5,879
Share of Total Sales 48.7% 11.1% 7.3% 8.3% 22.6% 1.6% 0.1% 0.1% 0.1% -
Average Price $627,111 $482,487 $426,665 $320,208 $349,454 $416,535 $167,383 $567,333 $229,300 $503,662
SALES BY PRICE RANGE AND HOUSE TYPE1,7 YEAR-TO-DATE, 2012
Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total
$0 to $99,999 35 2 7 18 175 0 7 0 7 251
$100,000 to $199,999 502 135 48 599 2,038 9 35 0 10 3,376
$200,000 to $299,999 2,489 520 925 1,847 5,261 301 21 17 34 11,415
$300,000 to $399,999 5,316 2,442 1,765 2,007 4,870 238 20 26 10 16,694
$400,000 to $499,999 6,529 2,580 1,552 641 1,963 306 10 9 6 13,596
$500,000 to $599,999 5,852 927 626 188 735 264 4 4 0 8,600
$600,000 to $699,999 4,204 442 304 108 362 65 1 4 0 5,490
$700,000 to $799,999 2,800 248 92 74 154 9 3 1 0 3,381
$800,000 to $899,999 1,849 138 62 26 92 0 0 0 0 2,167
$900,000 to $999,999 1,027 68 28 8 49 0 0 0 0 1,180
$1,000,000 to $1,249,999 1,308 60 25 15 91 2 2 1 0 1,504
$1,250,000 to $1,499,999 835 36 8 3 40 0 1 0 0 923
$1,500,000 to $1,749,999 430 18 8 1 26 0 0 1 0 484
$1,750,000 to $1,999,999 247 7 2 0 10 0 0 0 0 266
$2,000,000 + 551 5 2 1 23 0 0 0 0 582
Total Sales 33,974 7,628 5,454 5,536 15,889 1,194 104 63 67 69,909
Share of Total Sales 48.6% 10.9% 7.8% 7.9% 22.7% 1.7% 0.1% 0.1% 0.1% -
Average Price $628,071 $458,600 $423,155 $327,842 $337,560 $414,418 $298,453 $410,402 $247,840 $499,090
Page 3 July 2010
Market Watch, September 2012 2