According to the Toronto Real Estate Board (TREB), there were 4,375 sales through the Multiple Listing Service (MLS) in January. This is a 1.3 per cent decrease from January 2012.
January saw an average selling price of $482,648 - which is up by 4.3 per cent from the average selling price of $462,655 reported in January 2012.
According to TREB president Ann Hannah, it is interesting to take note that sales were up for many home types in the GTA areas outside of the City of Toronto. This is due to the to the additional upfront land transfer tax.
The median price in January 2013 was $412,500.
The median price in January 2012 was $392,000.
“There will be enough competition between buyers in the marketplace to prompt continued growth in home prices in 2013. Expect annual average price growth in the three to five per cent range this year,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
*Market analysis based on numbers provided monthly by the Toronto Real Estate Board (TREB).