NEWS RELEASE



GTA REALTORS® Report Monthly Resale Housing Figures

TORONTO, September 4, 2014 -- Toronto Real Estate Board President Paul Etherington reported 7,600 sales through the TorontoMLS system in August 2014.  This result was up by 2.8 per cent compared to 7,391 transactions reported in August 2013.  Year-to-date sales through the end of August amounted to 65,454, which represented an increase of 6.5 per cent compared to the same period in 2013.

“The last full month of summer ended on a high note.  As we look toward the fall market, I expect that demand for ownership housing will remain strong.  Home buyers will continue to benefit from a diversity of affordable home ownership opportunities throughout the GTA.  The fact that sales were up for all major home types in August suggests that first-time buyers and existing home owners remain very active in today’s marketplace,” said Mr. Etherington.

The average selling price in August 2014 was $546,303 – up 8.9 per cent in comparison to the average of $501,677 reported in August 2013.  The year-to-date average price through August was $562,504, which represented an increase of 8.5 per cent in comparison to the same period in 2013.

“The number of listings in August was down in comparison to last year, while the number of sales increased.  This means that sellers’ market conditions remained in place with a lot of competition between buyers.  This is why we continued to see strong price growth last month.  Looking forward, if sales growth continues to outstrip listings growth, the average selling price should continue to increase on a year-over-year basis,” said Jason Mercer, TREB’s Director of Market Analysis

 

Summary of TorontoMLS Sales and Average Price August 1-31, 2014

 

2014

2013

 

Sales

Average Price

New Listings

Sales

Average Price

New Listings

 

City of Toronto ("416")

2,760

564,359

4,274

2,609

516,334

4,438

 

Rest of GTA ("905")

4,840

536,007

7,459

4,782

493,681

7,665

 

GTA

7,600

546,303

11,733

7,391

501,677

12,103

 

TorontoMLS Sales & Average Price By Home Type August 1-31, 2014

Sales

Average Price

416

905

Total

416

905

Total

Detached

828

2,723

3,551

902,428

644,120

704,350

Yr./Yr. % Change

1.7%

0.4%

0.7%

14.7%

9.3%

10.9%

Semi-Detached

246

539

785

627,725

445,577

502,658

Yr./Yr. % Change

7.4%

2.5%

4.0%

8.8%

8.9%

9.3%

Townhouse

312

930

1,242

463,798

406,748

421,080

Yr./Yr. % Change

11.8%

1.3%

3.8%

11.7%

8.5%

9.6%

Condo Apartment

1,344

527

1,871

370,899

307,148

352,942

Yr./Yr. % Change

6.3%

6.9%

6.5%

4.1%

5.4%

4.4%