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Resale Housing Market Figures Released for August

The Toronto Real Estate Board reported 6,418 sales through the TorontoMLS system in August 2012, representing a year-over-decline of almost 12.5% compared to 7,330 sales reported in August 2011. The number of new listings reported in August was down by 5.5% compared to the same period in 2011.

“Residential transactions were down in August compared to last year. Stricter mortgage lending guidelines, which came into effect in July, arguably played a role. In the City of Toronto, the additional impact of relatively higher home prices coupled with the upfront cost associated with the City’s Land Transfer Tax led to a stronger annual decline in sales compared to the rest of the GTA,” said Toronto Real Estate Board (TREB) President Ann Hannah.

The average selling price for August 2012 transactions was $479,095 – up by almost 6.5% compared to August 2011.

>>Click here for the Full Report

>>Historic Annual Sales and Average Price

>>Click here for TREB Video Commentary

 

Casey Ragan

“Toronto’s Condo Authority”

Toronto Condos and Lofts

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