According to TREB Market Watch December 2012,
- number of last month transactions was 3,690, down from 4,585 of Dec.2011;
- average GTA home sale price for the month was $478,739 vs $449,566 a year ago;
- new listings dropped by 10%.
In 2012, there were 85,731 resales in GTA through MLS. The average home resale price was $497,298 representing nearly 7% increase from 2011.
Since TREB tracked GTA home sale price in 1966, the average home price grew from $21,360 to $497,298 (23 times) in these 46 years. In other words, GTA home value has grown with an average of +7% every year from 1966 to 2012.
Wishing all a very merry 2013.