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December 2012 Market Results – 2012 was a Yin-Yang Year for Toronto

City of Toronto

2012 was an interesting year for Toronto’s real estate market. It was no perfect picture but it had a mix of good and bad, with signs that the Toronto real estate market is very much active and trying to adjust itself.

The December 2012 RealNet report reveals interesting statistics about the market. On the good side of the picture, November 2012 was the 5th best month for high-rise sales in the GTA, on a 13-yr average. In addition, 2012 was the 4th highest yearly high-rise sales on record, approximately 14% higher than the long term average.

On the negative side, the GTA had the 2nd lowest yearly low-rise sales on record, which is about 40% lower than the long term average. In addition, in comparison to the 5th best month for high-rise sales in the GTA in November, the same month had the 2nd lowest November Low Rise sales on record, also on a 13-yr average.

We see a shift in the market, shift in what potential home buyers are more interested in and how that has affected our market as a whole. With that said, with 237 projects containing 60,713 units currently under construction – 88% pre-sold – we can still observe a strong demand in the Toronto GTA market.

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