Happy New Year! Welcome to another installment of my monthly Toronto Real Estate Market update. In this iteration I will be reviewing the figures from December 2012. I’m happy to elaborate on any of the data and insights in this report or provide you with neighborhood-specific figures. Just send me an email or give me a call at 416-690-2181 to discuss.
Average home prices in the GTA where up 6% year-over year. The average sale price in December 2012 was $478,739, up from $451,436 in December 2011.
The number of houses sold was down significantly in December versus the same period last year. 3,690 homes were sold in December 2012, down 19.5 percent year-over-year.
In short, prices went up but number of homes sold went down.
The graph below shows a running tally of month-by-month averages prices in 2011 and 2012:
Active listings (supply) slightly increased last month. Supply was up 2.9 percent in December 2012 year-over-year.
The chart below illustrates the actual figures for supply (active listings) and demand (sales):
| Supply vs. Demand | ||
|---|---|---|
| Dec 2011 | Dec 2012 | |
| Demand | 4,585 | 3,690 |
| Supply | 12,868 | 13,241 |
The next chart outlines the average prices by housing types (detached, semi-detached, etc.). December 2012 and Year-to-Date (YTD) cumulative totals.
| Overall Toronto Average Prices by Type | ||
|---|---|---|
| Dec 2012 | YTD | |
| Detached | $609,678 | $625,859 |
| Semi-Detached | $445,020 | $459,943 |
| Attached/Row | $402,903 | $421,413 |
| Townhouse | $322,202 | $329,042 |
| Condo Apt | $325,726 | $336,522 |
Thanks for reading my market update for December 2012. As always, if you have questions, looking to make a move or know someone that is, let me know – I’m happy to help!