Greater Toronto Realtors(R) Report Mid Month Resale Housing Market Figures

Marketwired

TORONTO, ONTARIO--(Marketwired - Jul 16, 2014) - Toronto Real Estate Board President Paul Etherington announced that TorontoMLS home sales through the first 14 days of July 2014 were up by 11.6 per cent year-over-year to 3,891. New listings were also up compared to the same period in 2013, but by a lesser annual rate of 9.7 per cent.

"There are two key takeaways from the July mid-month results. First, given the continuation of strong sales growth, it is clear that buyers are still attracted to affordable home ownership options in the GTA. Second, if new listings growth continues to outpace sales growth, we could start to see an improvement in the overall supply of homes for sale. This would be a relief for some buyers who have been hard pressed to find a home that meets their needs in this tight market," said Mr. Etherington.

The average selling price for sales reported during the first two weeks of July 2014 was $549,174. This result was up by eight per cent compared to the same period in 2013. The strongest rates of price growth were reported for semi-detached houses and townhouses in the City of Toronto.

"Annual average price growth remains in the high single-digits or low double-digits for many home types across the GTA. It is possible that we could see more choice for buyers in the second half of 2014 in the form of increased new listings. A sustained increase in choice for buyers could serve to gradually ease the pace of price growth in some market segments," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis.

Summary of TorontoMLS Sales and Average Price July 1-14, 2014
2014 2013
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 1,403 585,999 2,822 1,264 526,931 2,579
Rest of GTA ("905") 2,488 528,408 4,490 2,222 498,358 4,088
GTA 3,891 549,174 7,312 3,486 508,718 6,667
TorontoMLS Sales & Average Price By Home Type - July 1-14, 2014
Sales Average Price
416 905 Total 416 905 Total
Detached 448 1,428 1,876 $ 865,635 $ 630,595 $ 686,724
Yr./Yr. % Change 18.5 % 12.4 % 13.8 % 8.8 % 6.0 % 7.2 %
Semi-Detached 139 259 398 $ 678,749 $ 444,269 $ 526,160
Yr./Yr. % Change -6.7 % 4.0 % 0.0 % 14.5 % 5.9 % 8.6 %
Townhouse 154 475 629 $ 498,907 $ 401,161 $ 425,093
Yr./Yr. % Change 8.5 % 14.5 % 12.9 % 12.3 % 7.3 % 8.5 %
Condo Apartment 649 267 916 $ 396,078 $ 303,497 $ 369,092
Yr./Yr. % Change 10.9 % 20.3 % 13.5 % 10.7 % 5.6 % 9.1 %

Greater Toronto REALTORS® 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 39,000 TREB Members serve consumers in the Greater Toronto Area. TREB is Canada's largest real estate board.

Contact:
Media Inquiries:
Mary Gallagher
Senior Manager Public Affairs
(416) 443-8158
maryg@trebnet.com

Rates

View Comments (0)