Monthly Market Report: GTA Prices up 2%, while volume down 15%

The Toronto MLS released their monthly market report today, suggesting that we will continue to experience some volatility in price growth for some market segments in 2013.

From the Toronto MLS report:

Greater Toronto Area (GTA) REALTORS® reported 5,759 sales through the TorontoMLS system in February 2013 – a decline of 15 per cent in comparison to February 2012.  It should be noted that 2012 was a leap year with one extra day in February.  A 28 day year-over-year sales comparison resulted in a lesser decline of 10.5 per cent.

The average selling price for February 2013 was $510,580 – up two per cent in comparison to February 2012.

One of the largest impacts was seen in the sales of homes over $2 million which decreased by 32.5 per cent compared with February 2012.

You can view the full TREB release here