The Toronto Real Estate Board reported 3,594 transactions through the TorontoMLS system during the first 14 days of March 2013 – down 11.5% compared to the same period last year. The number of new listings was up by less than 2%.
“With sales down and listings up slightly, the GTA market was better supplied in the first half of March compared to last year. This fact notwithstanding, there has been enough competition between buyers to promote moderate to strong upward pressure on average selling prices for most home types on an annual basis,” said Toronto Real Estate Board President Ann Hannah.
“The average price for condominium apartments in the City of Toronto was up over last year. If this price growth continues, it may indicate that conditions are tightening slightly in this segment,” added Ms. Hannah.
The average selling price for the first two weeks of March was up by almost 6% year-over-year to $532,102. Average prices were up for all major home type categories.
“Toronto’s Condo Authority”