Snowmageddon! We survived! Welcome to another installment of my monthly Toronto Real Estate Market update. In this article I will be reviewing the figures from January 2013. 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 4.3% year-over year. The average sale price in January 2013 was $482,648, up from $462,655 in January 2012.
Sales volume (i.e. number of houses sold) were fairly flat in January versus the same period last year. 4,375 homes were sold in January 2013, down 1.3 percent year-over-year.
Again, this is continuing to indicate a return to a fairly balanced marketplace.
The graph below shows a running tally of month-by-month averages prices in 2012 and 2013:
Active listings (supply) slightly increased last month. Supply was up 2.9 percent in January 2013 year-over-year.
The chart below illustrates the actual figures for supply (active listings) and demand (sales):
|Supply vs. Demand|
|Jan 2012||Jan 2013|
The next chart outlines the average prices by housing types (detached, semi-detached, etc.). January 2013 and Year-to-Date (YTD) cumulative totals (which will be the same in this case, as the year just started).
|Overall Toronto Average Prices by Type|
Thanks for reading my market update for January 2013. As always, if you have questions, looking to make a move or know someone that is, let me know – I’m happy to help!