Welcome to another installment of my monthly Toronto Real Estate Market update. In this article I will be reviewing the figures from October 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 6.2% year-over year. The average sale price in October 2012 was $503,479, up from $474,241 in October 2011.
6,896 homes were sold in October 2012, down 7.1 percent from the same period last year. An improvement over the September where the number of homes sold where down 20.8 percent from September 2011.
The graph below shows a running tally of month-by-month averages prices in 2011 and 2012:
Active listings (supply) continued to increase last month. Supply was up 16.5 percent in October 2012 year-over-year.
The chart below illustrates the actual figures for supply (active listings) and demand (sales):
|Supply vs. Demand|
|Oct 2011||Oct 2012|
The next chart outlines the average prices by housing types (detached, semi-detached, etc.). Sept 2012 and Year-to-Date (YTD) cumulative totals.
|Overall Toronto Average Prices by Type|
Thanks for reading my market update for November 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!