Greater Toronto Area mid month resale housing figures declared last week was up to expectations.
Online PR News – 06-August-2013 – Toronto – Greater Toronto Area mid month resale housing figures declared last week was up to
expectations. Realtors in Toronto including greater area witnessed about 3600 housing units sold in first half month of July which is approximately 2 percent higher than last year at same period. In contrast, new listing over the same time period is cut off by 2 percent. Although new listing had cut down but there is no fear of any slowdown or bear market. Amrit Thukral , the renowned and one of the best real estate agent in Toronto said that," Although tighter market condition seen in starting of second half of 2013 but overall Same trend in residential sales will keep on continue as first half. Annual rate of price growth is keep on growing with new listing down and residential sales up. Single detached and semi detached homes are the main constituent of residential growth and will remain in very short supply".
$510,819 was the average selling price of units for the first half of July which was higher by 8.1 percent in compared to first half of July 2012. 10.7 and 14.1 percent growth rates experienced in the single-detached and semi detached market segment respectively in the city of Toronto. These both segment showed strongest year-over-year growth in City of Toronto which seems to be the good signal in real estate industry. The condominiums segment continued to experience moderate average price growth.
Sales of first half in July month is less about 1000 units than in first half of last
month. Same trend of higher sales in outer area and flat sales in city continue as last
month. Average sales price had also decreased by approximately $25,000 in compared to last month. In Overall, downfall is seen in compared to last month but their is nothing much to worry.
It is expected that second half of 2013 will experience factor pace of growth and higher average price in compared to first 6 months of the year. The strong demand and shortage of new listings will accelerate the price growth in some areas. Condominium market will also show sign of improvement in coming term.