The Toronto Real Estate Board (TREB) released their mid-month resale housing figures earlier this week and the numbers show that sales through the first two weeks of January are stronger than the same period in 2012.
There were 1,469 sales through the Toronto MLS system, representing an increase of 2.4 per cent over the 1,435 transactions during the first two weeks of 2012.
“The New Year started off on a positive note with residential sales slightly above last year’s levels,” said Ann Hannah, TREB’s President, in the press release that accompanied the numbers.
“I am cautiously optimistic about this result. It will be important to watch sales trends closely as we move through the first quarter to see if some of the households who moved to the sidelines as a result of stricter lending guidelines are starting to renew their decision to purchase a home.”
The average selling price in the first two weeks of 2013 was up by four per cent year-over-year to $459,728.
In the same press release, Jason Mercer, TREB’s Senior Manager of Market Analysis, said he expected the average selling price to grow in 2013, though at a slower pace as there are more choices available to buyers.
TREB included two tables with plenty of specific data on the Toronto resale market in the press release. Check them out below…