GTA REALTORS(R) Release Monthly Resale Housing Figures

Tue Feb 5, 2013 7:00am EST

* Reuters is not responsible for the content in this press release.

  TORONTO, ONTARIO, Feb 05 (MARKET WIRE) --
Greater Toronto Area REALTORS(R) reported 4,375 transactions through the
TorontoMLS system in January 2013. This number represented a slight
decline compared to 4,432 transactions reported in January 2012.

    "The January sales figures represent a good start to 2013. While the
number of transactions was down slightly compared to last year, the rate
of decline was much less than what was experienced in the second half of
2012. This suggests that some buyers, who put their decision to purchase
on hold last year due to stricter mortgage lending guidelines, are once
again becoming active in the market," said Toronto Real Estate Board
(TREB) President Ann Hannah.

    "It is interesting to note that sales were up for many home types in the
GTA regions surrounding the City of Toronto. This is due, at least in
part, to the additional upfront land transfer tax in the City of
Toronto," added Ms. Hannah.

    The average selling price for January 2013 sales was $482,648 - up by 4.3
per cent compared to $462,655 in January 2012. The MLS(R) Home Price
Index (HPI) Composite Benchmark price was up by 3.8 per cent over the
same period.

    "There will be enough competition between buyers in the marketplace to
prompt continued growth in home prices in 2013. Expect annual average
price growth in the three to five per cent range this year," said Jason
Mercer, TREB's Senior Manager of Market Analysis.

    Greater Toronto REALTORS(R) are passionate about their work. They are
governed by a strict Code of Ethics and share a state-of-the-art Multiple
Listing Service. Over 36,000 TREB Members serve consumers in the Greater
Toronto Area. The Toronto Real Estate Board is Canada's largest real
estate board.


                                                                            
Summary of TorontoMLS Sales and Average Price January 1-31, 2013            
                                                                            
----------------------------------------------------------------------------
                    2013                          2012                      
                  ----------------------------------------------------------
                            Average       New             Average       New 
                   Sales      Price  Listings    Sales      Price  Listings 
City of Toronto                                                             
("416")            1,559  $ 507,859     4,207    1,667  $ 498,534     4,015 
Rest of GTA                                                                 
("905")            2,816  $ 468,691     6,417    2,765  $ 441,024     5,583 
GTA                4,375  $ 482,648    10,624    4,432  $ 462,655     9,598 
----------------------------------------------------------------------------
                                                                            
TorontoMLS Sales & Average Price By Home Type January 1-31, 2013            
                                                                            
                   Sales                         Average Price              
                     416        905     Total      416        905     Total 
                  ----------------------------------------------------------
Detached             502      1,579     2,081  765,049    563,675   612,252 
Yr./Yr. % Change    -7.6%       3.7%      0.7%     2.7%       6.8%      4.7%
Semi-Detached        147        324       471  586,080    391,830   452,456 
Yr./Yr. % Change    -5.2%       0.9%     -1.1%    12.5%       3.6%      6.5%
Townhouse            166        519       685  418,262    359,271   373,566 
Yr./Yr. % Change   -11.2%       1.0%     -2.3%     1.8%       5.6%      4.0%
Condo Apartment      730        321     1,051  340,295    269,073   318,542 
Yr./Yr. % Change    -4.5%      -6.4%     -5.1%    -1.3%      -1.4%     -1.2%
----------------------------------------------------------------------------


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Contacts:
Media Inquiries:
Toronto Real Estate Board
Mary Gallagher
Senior Manager Public Affairs
(416) 443-8158
maryg@trebnet.com

Twitter: www.twitter.com/TREBhome
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