GTA Realtor Report: December 2013
Up and down…
Overall December finished off the year with strong sales having reported 4078 transactions in the GTA this month, up about 14% from that last year despite new listings entering the market down by 4% over the same period.
Overall 2013 sales were up by about 2% from that of 2012, a respectable finish to a year that started slow and gained momentum in the later half. The average price for December was up 8.9% percent from this time last year to $520,398 and up to $523,036 for the average selling price for 2013, an overall increase of 5.2%.
5% has been about the average appreciation amount I’ve been quoting my clients so its nice to see I was bang on!
Predictions for 2014 are that the market will continue with the sellers market conditions we’ve been seeing in many parts of the GTA due to lower inventory and we’ll also see average selling prices on their way up and by more than that of inflation for that same reason.