Welcome to the October 2012 installment of my Toronto Real Estate Market update where I will review last month’s statistics. I’m happy to elaborate on any of the data and insights in this report, just send me an email or give me a call at 416-690-2181 to discuss.
Average home prices in the GTA where up 8.6% year-over year. The average sale price in Septemer 2012 was $503,662, up from $479,095 in September 2011.
5,879 homes were sold in August 2012, down a whopping 20.8 percent from September 2011 when 7,422 sales were reported (resale).
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 15 percent in September 2012 versus the same period last year.
The chart below illustrates the actual figures for supply (active listings) and demand (sales):
| Supply vs. Demand | ||
|---|---|---|
| Sept 2011 | Sept 2012 | |
| Demand | 7,422 | 5,879 |
| Supply | 18,793 | 21,621 |
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 | ||
|---|---|---|
| Sept 2012 | YTD | |
| Detached | $627,111 | $628,071 |
| Semi-Detached | $482,487 | $458,600 |
| Attached/Row | $426,665 | $423,155 |
| Townhouse | $320,208 | $327,842 |
| Condo Apt | $349,454 | $337,560 |
Thanks for reading my market update for October 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!