Toronto Real Estate Board Releases January 2013 Resale Housing Stats

According to the latest Toronto MLS statistics from the Toronto Real Estate Board, there were 4,375 transactions in January through the Toronto MLS, which is only slightly lower than the 4,432 transactions in January of last year.

“The January sales figures represent a good start to 2013. While the number of transactions was down slightly compared to last year, the rate of decline was much less than what was experienced in the second half of 2012,” said the president of the Toronto Real Estate Board, Ann Hannah, in a press release. “This suggests that some buyers, who put their decision to purchase on hold last year due to stricter mortgage lending guidelines, are once again becoming active in the market.”

She continued, “It is interesting to note that sales were up for many home types in the GTA regions surrounding the City of Toronto. This is due, at least in part, to the additional upfront land transfer tax in the City of Toronto.”

The average sales price for resale homes in Toronto was up by 4.3 per cent in January 2013, to $482,648 to $462,655.

“There will be enough competition between buyers in the marketplace to prompt continued growth in home prices in 2013,” said the senior manager of market analysis for the Toronto Real Estate Board, Jason Mercer. “Expect annual average price growth in the three to five per cent range this year.

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