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Market watch march 2013
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(416) 443-8152
For All Media/Public Inquiries:
March 2013 (416) 443-8158
Economic Indicators Average Price up in March and First Quarter TorontoMLS Sales Activity1,7
TORONTO, April 3, 2013 – Greater Toronto Area REALTORS® reported 7,765 transactions
Real GDP Growthi through the TorontoMLS system in March 2013 – down 17 per cent compared to 9,385
Q4 2012 t 0.6% transactions in March 2012. While the year-over-year dip in March sales followed the
trend that has unfolded since mid-way through 2012, it is also important to note that the
Toronto Employment Growthi i Good Friday holiday was in March this year versus April in 2012. Generally speaking, there
are fewer sales reported on statutory holidays and weekends.
February 2013 t 4.6% 9,385
In the first quarter of 2013, sales amounted to 17,678 – down by 14 per cent compared to
Q1 2012.
7,765
Toronto Unemployment Rate
February 2013 t 8.4% "Home ownership remains affordable for a household earning the average income in the
Greater Toronto Area. There are many willing buyers in the marketplace today. While
Inflation (Yr./Yr. CPI Growth)i i some households have put their decision to purchase on hold as a result of stricter lending
guidelines or the additional Land Transfer Tax in the City of Toronto, other households
February 2013 t 1.2% simply haven’t been able to find the right house due to a shortage of listings in some
March 2013 March 2012
iii market segments," said Toronto Real Estate Board President Ann Hannah.
Bank of Canada Overnight Rate
The average selling price in March was $519,879 – up by 3.8 per cent compared to March
March 2013 q 1.0% 2012. The average price in Q1 2013 was $508,066 – up by 3.2 per cent compared to the TorontoMLS Average Price1,7
iv first quarter of 2012.
Prime Rate
"The average selling price and the MLS® Home Price Index Composite Benchmark was up
March 2013 q 3.0% on a year-over-year basis across most home types, especially in the low-rise market
iv segments where supply remains an issue. TREB's average price forecast for 2013 remains
Mortgage Rates (Mar. 2013)
$519,879
$500,875
at $515,000, representing a 3.5 per cent annual rate of growth," said Jason Mercer, TREB's
Chartered Bank Fixed Rates Senior Manager of Market Analysis.
1 Year q 3.00% 1,7
3 Year u 3.55% Sales & Average Price By Major Home Type
5 Year u 5.14% March 2013
Sources and Notes: Sales Average Price
i
Statistics Canada, Quarter-over-quarter 416 905 Total 416 905 Total
March 2013 March 2012
growth, annualized
Detached 975 2,794 3,769 $846,828 $592,265 $658,118
1,7
ii
Statistics Canada, Year-over-year growth
for the most recently reported month
Yr./Yr. % Change -21.6% -16.4% -17.8% 2.8% 5.4% 4.0% Year-Over-Year Summary
Semi-Detached 314 573 887 $607,334 $403,031 $475,355 2013 2012 % Chg.
iii
Bank of Canada, Rate from most recent Yr./Yr. % Change -15.1% -14.0% -14.4% 6.9% 3.1% 4.6%
Bank of Canada announcement
Sales 7,765 9,385 -17.3%
Townhouse 300 884 1,184 $450,104 $369,590 $389,990 New Listings 14,728 16,191 -9.0%
iv
Bank of Canada, Rates for most recently
Yr./Yr. % Change -18.5% -13.5% -14.8% 7.5% 4.2% 5.0% Active Listings 18,384 16,920 8.7%
completed month
Condo Apartment 1,266 505 1,771 $367,595 $278,984 $342,327 Average Price $519,879 $500,875 3.8%
Yr./Yr. % Change -18.7% -17.8% -18.4% 2.0% 1.3% 1.7% Average DOM 24 21 13.8%
2. Toronto Real Estate Board
SALES BY PRICE RANGE AND HOUSE TYPE1,7 MARCH 2013
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 1 0 0 2 16 0 1 0 1 21
$100,000 to $199,999 41 9 4 39 227 1 0 0 1 322
$200,000 to $299,999 227 62 81 182 573 21 1 1 3 1,151
$300,000 to $399,999 507 242 205 211 548 30 3 2 0 1,748
$400,000 to $499,999 706 320 169 82 215 34 0 2 0 1,528
$500,000 to $599,999 660 119 90 29 82 34 2 1 0 1,017
$600,000 to $699,999 498 65 41 12 45 11 0 2 0 674
$700,000 to $799,999 342 24 12 8 26 2 0 0 0 414
$800,000 to $899,999 240 20 6 1 8 0 0 0 0 275
$900,000 to $999,999 129 11 3 2 7 0 1 0 0 153
$1,000,000 to $1,249,999 149 8 1 0 12 0 0 0 0 170
$1,250,000 to $1,499,999 109 3 2 0 7 0 0 0 0 121
$1,500,000 to $1,749,999 64 2 0 0 1 0 0 0 0 67
$1,750,000 to $1,999,999 31 0 1 0 0 0 0 0 0 32
$2,000,000 + 65 2 0 1 4 0 0 0 0 72
Total Sales 3,769 887 615 569 1,771 133 8 8 5 7,765
Share of Total Sales 48.5% 11.4% 7.9% 7.3% 22.8% 1.7% 0.1% 0.1% 0.1% -
Average Price $658,118 $475,355 $433,340 $343,136 $342,327 $441,088 $418,300 $475,063 $190,900 $519,879
SALES BY PRICE RANGE AND HOUSE TYPE1,7 YEAR-TO-DATE, 2013
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 5 0 1 7 43 0 3 0 1 60
$100,000 to $199,999 93 24 6 100 551 1 9 0 2 786
$200,000 to $299,999 569 135 190 405 1,388 51 4 4 7 2,753
$300,000 to $399,999 1,201 560 515 490 1,255 79 5 2 3 4,110
$400,000 to $499,999 1,640 692 412 174 496 73 1 4 0 3,492
$500,000 to $599,999 1,541 262 185 62 184 59 2 2 0 2,297
$600,000 to $699,999 1,040 122 80 25 90 23 1 2 0 1,383
$700,000 to $799,999 738 52 32 19 48 2 0 0 0 891
$800,000 to $899,999 489 40 12 7 18 0 0 0 0 566
$900,000 to $999,999 276 24 8 7 19 0 1 0 0 335
$1,000,000 to $1,249,999 344 22 4 2 19 0 0 0 0 391
$1,250,000 to $1,499,999 229 5 2 0 12 0 0 0 0 248
$1,500,000 to $1,749,999 131 7 1 0 4 0 0 0 0 143
$1,750,000 to $1,999,999 71 3 1 0 1 0 0 0 0 76
$2,000,000 + 137 4 0 1 5 0 0 0 0 147
Total Sales 8,504 1,952 1,449 1,299 4,133 288 26 14 13 17,678
Share of Total Sales 48.1% 11.0% 8.2% 7.3% 23.4% 1.6% 0.1% 0.1% 0.1% -
Average Price $644,512 $472,865 $427,175 $342,191 $332,846 $424,387 $275,535 $428,607 $238,531 $508,066
Page 3 July 2010
Market Watch, March 2013 2