Toronto Real Estate Board Releases Mid-August 2013 Housing Stats

According to the latest mid-month resale housing figures from the Toronto Real Estate Board, Home sales through the TorontoMLS Listings during the first two weeks of August 2013 reached 3,359 sales, which is an increase of 22 per cent over the same time last year. Listings also increased year-over-year during this time.

“The strong annual sales growth experienced in July was sustained in the first two weeks of August,” said the president of the Toronto Real Estate Board, Dianne Usher. “The fact that sales were up for all major home types in the City of Toronto and surrounding regions suggests that a wide range of buyers are active in the marketplace today – from first-time buyers through to existing home owners whose housing needs have changed.”

The average home selling price during the first 14 days of August was $494,617, which is an increase of three per cent.

According to the Toronto Real Estate Board’s Senior Manager of Market Analysis, Jason Mercer, “Sales growth that is stronger than new listings growth is indicative of more competition between buyers. Against this backdrop, it makes sense that the average selling price continued to grow.”

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