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Toronto Real Estate Sales On the Decline! [Update]

GTA Resale Market – June 1-June 14, 2012:

TREB – With 4,597 sales, GTA’s resale sales remained flat, but strong, in the first 14 days of June 2012 compared to last year’s mid-month release. The average price of transactions was $516,834, which is an increase of 8% over last year’s $477,025. In the meantime, total number of new listings ended up at 8,382 which represents a 16% increase over last year.

GTA New Home Market – May 2012

RealNet Canada – There were a total of 3,323 new home sales for May, 2012 representing a 27% decline from May, 2011. This is also down 11% from the long term average (calculated over the past 13 Mays). The 3,323 sales consisted of 1,733 high rise sales and 1,590 low rise sales both down 36% and 15% respectively from May 2011.

As for the Year to Date stats, there were 16,964 new homes sales in the first 5 months of 2012 which is down two per cent fromt he long term average sales of 17,293. (source: RealNet Canada)


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