The Toronto Real Estate Board recorded 3,158 transactions in the first 14 days of September 2013, a 29 per cent increase over September 2012’s numbers.
The TREB report, released earlier today, found sales climbed for all major home types across the GTA over last year, with the condo segment leading the way with the strongest sales growth in the City of Toronto.
Condo sales rose 42.6 per cent in Toronto city proper and 21.8 per cent in the rest of the GTA, making for an impressive city-wide increase of 36 per cent.
“The strong growth in sales that we have seen over the past two-and-a-half months indicates that GTA households are approaching home ownership with a renewed sense of confidence,” said Toronto Real Estate Board President Dianne Usher.
“Prospective home buyers have taken a hard look at their household balance sheets over the past year and have found that, despite stricter lending guidelines, there are affordable property types from which to choose.”
The average GTA sales price rose by four per cent over the same period in September 2012, hitting $514,560. The average condo sales price rose 0.9 per cent in the 416 to $355,425 and 4.2 per cent in the 905 to $296,317.
“With months of inventory remaining low from a historic perspective and evidence of tighter market conditions during the summer, the only argument that makes sense is for continued home price growth in the Greater Toronto Area for the remainder of 2013,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
Here’s a look at the sales and pricing data broken down across housing types and regions:
Photo: Steven Talunay/Flickr