Kirby Chan's Blog

A Real Estate Sales Representative Serving Greater Toronto. Search MLS Listings, Find Homes For Sale and Sell Your Home.

The Kirby Report: Number of Transactions Down While Average Selling Price Goes Up

17 Comments

September average selling prices were up compared to last year for all home types. An increase of more than 8.5 percent and the average selling price for last month’s transactions was $503,662. There’s a price growth in the City of Toronto, especially for condominium apartments with an eight per cent year-over-year growth. The Greater Toronto Area (GTA) REALTORS® reported that there were 5,879 transactions that went through the TorontoMLS system.

The number of transactions was down by 21 per cent in comparison to September 2011. However, it is important to note that there were two fewer working days in September 2012 compared to September 2011. The majority of transactions are entered on working days. On a per working day basis, sales were down by 12.5 per cent year-over-year.

“Barring a major change to the consensus economic outlook, home price growth is expected to continue through 2013. Based on inventory levels, price growth will be strongest for low-rise home types, including single-detached and semi-detached houses and town homes,” said TREB’s Senior Manager of Market Analysis, Jason Mercer.

“While sales have been lower due to stricter mortgage lending guidelines, we continue to see substantial competition between buyers. The months of inventory trend remains low from a historic perspective, which explains the strong price increases we are experiencing,” said Toronto Real Estate Board (TREB) President Ann Hannah.

Wondering what your home or condo unit is worth? Contact Me, Just Click Here or call me directly at (416) 305-8008.

Kirby Chan | Sales Rep. | Director of Technology & Social Media
Keller Williams Real Estate Service
17 Church Ave., North York
Tel: (416) 222-6188 | Mobile: (416) 305-8008
info@KirbyChan.com | www.KirbyChan.com (Home Buying & Selling Resource Guide)

Real Estate Toronto 360 (GTA Home Buying Resource)

Toronto Condominium Search (GTA Condo Buying Resource)

 

Enhanced by Zemanta
Advertisements

Author: Kirby Chan

I am a Real Estate Sales Representative servicing the Greater Toronto Area.

17 thoughts on “The Kirby Report: Number of Transactions Down While Average Selling Price Goes Up

  1. Pingback: Custom Built Interior Designed by Bradley Stephen: 540 Fairlawn Avenue MLS# C2449248 « Kirby Chan's Blog

  2. Pingback: 297 Wychwood Ave, Toronto M6C2T6 MLS# C2459882 « Kirby Chan's Blog

  3. Pingback: 256 Doris Avenue & 260 Doris Avenue Condos – Sister Buildings Imperial I & II « Kirby Chan's Blog

  4. Pingback: Family Friendly Home at 131 Bridlepath Street MLS# N2479786 « Kirby Chan's Blog

  5. Pingback: Own A Piece of History at Waldorf Astoria Condos – 80 & 88 Charles Street, Toronto « Kirby Chan's Blog

  6. Pingback: 58 Marine Parade Drive #1210 For Sale – Downtown Toronto Condos « Kirby Chan's Blog

  7. Pingback: Brand New Home For Sale In Oak Ridges – 9 Homerton Avenue, Richmond Hill « Kirby Chan's Blog

  8. Pingback: 26 Kingmount Crescent, Richmond Hill L4B3W6 – Official Listing By Kirby Chan « Kirby Chan's Blog

  9. Pingback: RBC Report Burst the Toronto Condo Bubble Myth « Kirby Chan's Blog

  10. Pingback: 50 Brian Harrison Way #508 M1P5J4, Toronto – For Sale « Kirby Chan's Blog

  11. Pingback: 20 Bloorview Place #1601 M2J0A6 For Sale – Aria Condominium « Kirby Chan's Blog

  12. Pingback: 204 Munro Street, Toronto M4M 2C2 – A Toronto Investment Opportunity! « Kirby Chan's Blog

  13. Pingback: 15 Coyle Street, L1T0A3 – Ajax Home For Sale – MLS #E2371001 « Kirby Chan's Blog

  14. Pingback: Toronto Real Estate Mastermind – David Pylyp Special Guest – May 18, 2012 « Kirby Chan's Blog

  15. Pingback: Tearing Down Your Old Garage – You May Want To Think Twice! « Kirby Chan's Blog

  16. Pingback: The Kirby Chan Report – Record Breaking Home Sales In April 2012 « Kirby Chan's Blog

  17. Pingback: Agent Reboot 2012 Toronto – June 27, 2012 « Kirby Chan's Blog

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s