Latest report from the Toronto Real Estate board for March of 2013

This is the Latest report from the Toronto Real Estate board for March of 2013

Enjoy!
Mark

Average Price up in March and First Quarter

TORONTO, April 3, 2013 – Greater Toronto Area REALTORS® reported 7,765 transactions
through the TorontoMLS system in March 2013 – down 17 per cent compared to 9,385
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
Good Friday holiday was in March this year versus April in 2012. Generally speaking, there
are fewer sales reported on statutory holidays and weekends.

In the first quarter of 2013, sales amounted to 17,678 – down by 14 per cent compared to
Q1 2012.

"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
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
simply haven’t been able to find the right house due to a shortage of listings in some
market segments," said Toronto Real Estate Board President Ann Hannah.

The average selling price in March was $519,879 – up by 3.8 per cent compared to March
2012. The average price in Q1 2013 was $508,066 – up by 3.2 per cent compared to the
first quarter of 2012.

"The average selling price and the MLS® Home Price Index Composite Benchmark was up
on a year-over-year basis across most home types, especially in the low-rise market
segments where supply remains an issue. TREB's average price forecast for 2013 remains
at $515,000, representing a 3.5 per cent annual rate of growth," said Jason Mercer, TREB's
Senior Manager of Market Analysis.