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Greater Toronto REALTORS Release Market Watch for July 2012
1. For All TREB Member Inquiries:
(416) 443-8152
For All Media/Public Inquiries:
July 2012 (416) 443-8158
Economic Indicators GTA Home Prices Up in July TorontoMLS Sales Activity1,7
TORONTO, August 3, 2012 – Greater Toronto REALTORS® reported 7,570 sales in July
Real GDP Growthi
2012, representing a decline of 1.5 per cent compared to 7,683 sales reported in July
Q1 2012 t 1.9% 2011. The decline was most pronounced in the condominium apartment segment in
the City of Toronto. Total sales in the rest of the Greater Toronto Area (GTA) were up
Toronto Employment Growthi i compared to the same period last year.
June 2012 t 0.2% “Very strong annual sales growth in the first half of 2012 and an earlier peak in sales 7,570 7,683
this spring compared to 2011 help explain more moderate sales this summer. New
Toronto Unemployment Rate
mortgage lending guidelines and the additional upfront cost of the City of Toronto land
June 2012 q 8.6% transfer tax also prompted some households to put their buying decision on hold,” said
ii Toronto Real Estate Board (TREB) President Ann Hannah.
Inflation (Yr./Yr. CPI Growth)
The average selling price in July 2012 was $476,947 – up by four per cent compared to
June 2012 t 1.5% July 2011. The MLS® Home Price Index (MLS® HPI)* composite index, which allows for July 2012 July 2011
iii an apples-to-apples comparison of benchmark home prices from one year to the next,
Bank of Canada Overnight Rate was up by 7.1 per cent year-over-year.
July 2012 q 1.0% “The GTA housing market became better-supplied in recent months. Buyers benefitted TorontoMLS Average Price1,7
iv from more choice in the market place, resulting in less upward pressure on the average
Prime Rate home price in July,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
July 2012 q 3.0% “The mix of homes sold in July 2012 versus July 2011 also appears to have changed,
iv further influencing the average selling price. This is evidenced by the different annual
Mortgage Rates (July 2012) rates of growth between the overall average price and the MLS HPI®,” continued
$476,947
$458,646
Chartered Bank Fixed Rates Mercer.
1 Year u 3.10%
1,7
3 Year q 3.95% Sales & Average Price By Major Home Type
5 Year q 5.24%
July 2012
Sources and Notes: Sales Average Price
i
Statistics Canada, Quarter-over-quarter 416 905 Total 416 905 Total July 2012 July 2011
growth, annualized
Detached 852 2,729 3,581 $752,431 $552,239 $599,869
ii
Statistics Canada, Year-over-year growth 1,7
for the most recently reported month
Yr./Yr. % Change -4% -1% -2% 8% 5% 6% Year-Over-Year Summary
Semi-Detached 272 509 781 $526,979 $389,592 $437,440 2012 2011 % Chg.
iii
Bank of Canada, Rate from most recent
Yr./Yr. % Change -14% 2% -4% 5% 5% 4% Sales 7,570 7,683 -1.5%
Bank of Canada announcement
iv
Townhouse 323 980 1,303 $416,084 $357,166 $371,771 New Listings 13,888 12,407 11.9%
Bank of Canada, Rates for most recently
completed month Yr./Yr. % Change -5% 24% 15% 3% 5% 4% Active Listings 20,318 17,515 16.0%
Condo Apartment 1,246 507 1,753 $347,996 $279,603 $328,216 Average Price $476,947 $458,646 4.0%
Yr./Yr. % Change -13% -2% -10% -1% 1% -1% Average DOM 26 26 -0.1%
2. Toronto Real Estate Board
SALES BY PRICE RANGE AND HOUSE TYPE1,7 JULY 2012
Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total
$0 to $99,999 12 0 0 4 10 0 1 0 0 27
$100,000 to $199,999 55 14 7 77 226 1 4 0 0 384
$200,000 to $299,999 290 54 96 205 617 30 1 4 4 1,301
$300,000 to $399,999 575 267 204 261 537 21 0 2 0 1,867
$400,000 to $499,999 748 274 199 90 210 47 2 0 1 1,571
$500,000 to $599,999 623 92 73 26 69 28 1 0 0 912
$600,000 to $699,999 439 43 23 8 41 4 0 0 0 558
$700,000 to $799,999 275 21 4 7 13 0 1 0 0 321
$800,000 to $899,999 167 9 8 1 6 0 0 0 0 191
$900,000 to $999,999 95 3 4 1 7 0 0 0 0 110
$1,000,000 to $1,249,999 123 2 1 0 10 0 0 0 0 136
$1,250,000 to $1,499,999 78 1 1 1 5 0 0 0 0 86
$1,500,000 to $1,749,999 29 1 1 0 1 0 0 0 0 32
$1,750,000 to $1,999,999 25 0 0 0 1 0 0 0 0 26
$2,000,000 + 47 0 1 0 0 0 0 0 0 48
Total Sales 3,581 781 622 681 1,753 131 10 6 5 7,570
Share of Total Sales 47.3% 10.3% 8.2% 9.0% 23.2% 1.7% 0.1% 0.1% 0.1% -
Average Price $599,869 $437,440 $422,567 $325,376 $328,216 $416,713 $313,300 $286,750 $299,260 $476,947
SALES BY PRICE RANGE AND HOUSE TYPE1,7 YEAR-TO-DATE, 2012
Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total
$0 to $99,999 30 1 4 14 145 0 4 0 5 203
$100,000 to $199,999 420 118 40 489 1,671 8 27 0 6 2,779
$200,000 to $299,999 2,048 421 781 1,501 4,326 260 18 12 27 9,394
$300,000 to $399,999 4,403 2,020 1,447 1,631 4,013 192 19 22 7 13,754
$400,000 to $499,999 5,410 2,135 1,297 548 1,653 260 10 7 6 11,326
$500,000 to $599,999 4,840 770 521 158 599 220 4 3 0 7,115
$600,000 to $699,999 3,571 378 247 87 302 59 1 4 0 4,649
$700,000 to $799,999 2,356 210 80 62 131 7 3 1 0 2,850
$800,000 to $899,999 1,538 116 58 22 81 0 0 0 0 1,815
$900,000 to $999,999 871 57 23 6 43 0 0 0 0 1,000
$1,000,000 to $1,249,999 1,095 49 21 11 77 2 2 1 0 1,258
$1,250,000 to $1,499,999 708 32 7 2 32 0 0 0 0 781
$1,500,000 to $1,749,999 373 11 7 1 22 0 0 0 0 414
$1,750,000 to $1,999,999 223 5 2 0 6 0 0 0 0 236
$2,000,000 + 456 2 2 1 15 0 0 0 0 476
Total Sales 28,342 6,325 4,537 4,533 13,116 1,008 88 50 51 58,050
Share of Total Sales 48.8% 10.9% 7.8% 7.8% 22.6% 1.7% 0.2% 0.1% 0.1% -
Average Price $630,762 $458,212 $424,331 $328,523 $337,582 $414,214 $308,686 $400,698 $259,998 $501,212
Page 3 July 2010
Market Watch, July 2012 2