Greater Toronto REALTORS(R) Report Mid-Month Housing Market Figures

TORONTO, ONTARIO--(Marketwired - Nov 18, 2014) - Toronto Real Estate Board President Paul Etherington announced that Greater Toronto REALTORS® reported 3,350 sales through the TorontoMLS system during the first 14 days of November 2014. Compared to the same period in 2013, this result represented an increase of 8.3 per cent. Over the same period, new listings were also up, but by a lesser 2.2 per cent.

"Both first-time buyers and existing homeowners who decided to change their housing situation continued to make deals on ownership housing across the GTA in the first half of November. This points to the fact that home ownership remains affordable and that buyers remain confident in ownership housing as a quality long-term investment," said Mr. Etherington.

The average selling price for sales during the first two weeks of November was $579,834, which was up by 7.6 per cent compared to the average of $538,755 reported for the same time frame in 2013. The detached market segment led the way in terms of year-over-year price growth, both in the City of Toronto and surrounding regions.

"Sellers' market conditions continued to be experienced for low-rise home types during the first 14 days of November. In many neighbourhoods across the GTA, there are a number of buyers competing for a constrained supply of singles, semis and townhouses. This is why, more often than not, annual average rates of price growth for these home types have been in the high single digits or low double digits this year," said Jason Mercer, TREB's Director of Market Analysis.

Summary of TorontoMLS Sales and Average Price November 1-14, 2014
		2014						2013
		Sales		Average Price		New Listings		Sales		Average Price		New Listings
City of Toronto ("416")		1,401		624,991		2,167		1,246		599,693		2,028
Rest of GTA ("905")		1,949		547,374		2,867		1,847		497,646		2,898
GTA		3,350		579,834		5,034		3,093		538,755		4,926
TorontoMLS Sales & Average Price By Home Type November 1-14, 2014
		Sales						Average Price
		416		905		Total		416		905		Total
Detached		496		1,105		1,601		$922,524		$664,340		$744,327
	Yr./Yr. % Change	8.1	%	4.9	%	5.9	%	8.4	%	11.8	%	10.7	%
Semi-Detached		131		202		333		$673,666		$443,008		$533,747
	Yr./Yr. % Change	-0.8	%	2.0	%	0.9	%	1.6	%	3.1	%	2.0	%
Townhouse		136		375		511		$511,735		$412,258		$438,733
	Yr./Yr. % Change	10.6	%	7.8	%	8.5	%	6.8	%	8.9	%	8.4	%
Condo Apartment		622		223		845		$407,178		$303,665		$379,861
	Yr./Yr. % Change	18.5	%	9.9	%	16.1	%	2.9	%	10.5	%	4.9	%

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 40,000 TREB Members serve consumers in the Greater Toronto Area.

TREB is Canada's largest real estate board.