Saturday, January 05, 2013

Toronto Home Prices Up In 2012,Sales Down

Toronto Harbourfront Condos
Toronto Harbourfront Condos

The December, 2012 sales are now in and Toronto and the rest of the GTA home sales were down from the same time in 2011.

The average Toronto resale home price increased to $478,739 up 6.5 per cent on a year over year basis.

According to the Toronto Real Estate Board year over year sales growth was strongest in the first half of the year but this declined in the second half due to various reasons like the new home mortgage lending guidelines.

Toronto MLS Sales and Average Price By Home Type (416 area):

  • Detached- 491 sales, average price $722,393 increase 2.4%
  • Semi-Detached- 129 sales, average price $556,260 increase 7.4%
  • Townhouse- 154 sales, average price $392,590 up 5.2%
  • Toronto Condos- 680 sales, average price $342,847 down -1.8%
Despite the dip in sales the Toronto Real Estate Board forecasts substantial competition between buyers for low-rise Toronto homes.

Toronto Condos in the Central Toronto Districts were mixed with the downtown area of (C01) increasing in average price to $429,829, up $20,257 or 4.9 per cent year over year.

Iris Li, is a Remax Condos Toronto Realtor who specializes in Toronto Downtown Condos, Condominiums and Lofts.

Toronto Condos Average Price 2012

Harbourfront Condo Listings