August Mid-Month Sales Stats Reveal A Strong Summer Market

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Well, the statistics are in and they’re confirming what many top producing realtors are experiencing this Summer.

Buyers remain active in their search for real estate.

The Toronto Multiple Listing Service had 3,359 sales reported during the first two weeks of August 2013. This result represented a 22 per cent increase compared to 2,743 sales in August 2012.

Sales were up on a year-over-year basis for all home types. Total new listings were up over the same period, but by a much lesser rate than sales.

“The strong annual sales growth experienced in July was sustained in the first two weeks of August. The fact that sales were up for all major home types in the City of
Toronto and surrounding regions suggests that a wide range of buyers are active in the marketplace today – from first-time buyers through to existing home owners whose housing needs have changed,” said Toronto Real Estate Board President Dianne Usher.

The average selling price during the first two weeks of August 2013 was $494,617 – up three per cent in comparison to the same period in 2012.
“Sales growth that is stronger than new listings growth is indicative of more competition between buyers. Against this backdrop, it makes sense that the average selling price continued to grow,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

The summer lull we typically experience when Buyers find respite in the warm weather just hasn’t occurred like it usually does. And it’s keeping the urbaneer team happily hopping while we trade off our own vacation escapes. In fact, I’m enroute to Bhutan in the heart of The Himilayas for an adventure in nature. While I’m just an email away, the team is here, so please know we welcome assisting you!

~ Steve and the urbaneer team 

Real Estate
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