Average Home Price Up Strongly in 2012
January 4, 2013 -- Greater Toronto Area REALTORS® reported 3,690 sales through the TorontoMLS system in December 2012 – down from 4,585 sales in December 2011. Total sales for 2012 amounted to 85,731 – down from 89,096 transactions in 2011.
“The number of transactions in 2012 was quite strong from a historic perspective. We saw strong year-over-year growth in sales in the first half of the year, but this growth was more than offset by sales declines in the second half. Stricter mortgage lending guidelines resulted in some households postponing their purchase of a home. In the City of Toronto, the dip in sales was compounded by the additional Land Transfer Tax, which buyers must pay upfront,” said Toronto Real Estate Board (TREB) President Ann Hannah.
The average selling price in December 2012 was up by 6.5 per cent year-overyear to $478,739. The average selling price for 2012 as a whole was up by almost seven per cent to $497,298.
“Robust annual rates of price growth were reported through most months of 2012. Price growth was strongest for low-rise homes, including singles, semis and townhouses. Despite a dip in sales, market conditions remained tight for these home types with substantial competition between buyers,” said TREB’s Senior Manager of Market Analysis Jason Mercer.
About North York
North York is one of the most affluent areas of Toronto that proffers an amazing experience of urban living. With well developed infrastructure, ever expanding transit system and proximity to all places of the greater Toronto area, North York is one of the most popular places in Toronto. When it comes to living, Bathurst Manor, The Bridle Path, Hogg's Hollow, York Mills, Willowdale and Bayview Village neighborhoods are considered among the most sought for residential areas of North York.
Mr.most.com brings the most up to date MLS listings North York to make home buying process easy, instant and simple for buyers and sellers. Our Mission is to provide professional and honest real estate service to both home owners wishing to sell their homes and home seekers willing to buy dream home. We offer many other benefits along with our services.
Whether you are looking for luxury home listings in Bayview Village & Henry Farm or budget friendly condo listings in Willowdale, Newtonbrook, Hillcrest Village & Don Mills/Donalda, we make sure you get the best of MLS listings North York at our site. Stay connected with us and get the best of Toronto living with us. For any further information, please feel free to contact us.