The doom and gloom news reports don’t seem to be scaring off Torontonians, at least not according to the mid-month market report from the Toronto Real Estate Board:
- Sales up 14.5 % (with the strongest growth in the condo sector)
- New listings up 13%
- Average selling price: $517, 242 – up 6% vs. last year
- In the 416: average selling price $572,159 vs. $547,659 a year ago
- Toronto Real Estate Board continues to expect to see tight market conditions for the balance of 2012
So how do these stats make us feel (other than a bit bored)?
- We predicted the increase in listings (Click here to read our Hmmm…Domething Feels Different blog) – this could be attributed to the fact that the seasonal fluctuations in the market seem about about a month ahead of last year
- Price growth was higher in the 905 than in the 416 – people like the burbs??
- The year-over-year price increases, while still high, seem to be gently declining – which is good, given double-digit increases aren’t fun for anyone (except the Seller who is selling in Toronto and moving to the US)