NEWS RELEASE



GTA REALTORS® REPORT MID-MONTH HOUSING MARKET FIGURES

TORONTO, December 16, 2014 -- Toronto Real Estate Board President Paul Etherington announced that Greater Toronto REALTORS® reported 2,496 sales through the TorontoMLS system during the first 14 days of December 2014.  This result was up by 1.9 per cent compared to the same period in December 2013.  Over the same period, new listings were down by 1.8 per cent year over year. 

“Greater Toronto Area households remain upbeat about buying a home, as evidenced by the increase in sales compared to last year.  However, many would-be home buyers continue to have problems getting a deal done due to the lack of listings for some home types.  The lack of listings has definitely been a drag on sales this year,” said Mr. Etherington. 

The average selling price for December mid-month transactions was $565,873, which represented a year-over-year increase of 8.6 per cent.  Price growth was driven by the detached market segment in the City of Toronto. 

“Sellers’ market conditions remain in place for low-rise home types, including detached and semi-detached houses and townhouses.  The condominium apartment segment of the market has been more balanced due to strong project completions, but there has been enough buyer interest to prompt condo price growth above the rate of inflation,” said Jason Mercer, TREB’s Director of Market Analysis.

 

 

Summary of TorontoMLS Sales and Average Price December 1-14, 2014

 

2014

2013

 

Sales

Average Price

New Listings

Sales

Average Price

New Listings

 

City of Toronto ("416")

982

581,544

1,214

939

534,443

1,215

 

Rest of GTA ("905")

1,514

555,708

1,636

1,510

512,798

1,687

 

GTA

2,496

565,873

2,850

2,449

521,098

2,902

 

 

TorontoMLS Sales & Average Price By Home Type December 1-14, 2014

Sales

Average Price

416

905

Total

416

905

Total

Detached

299

833

1,132

$936,761

$685,429

$751,815

Yr./Yr. % Change

7.9%

1.3%

3.0%

15.2%

7.9%

10.5%

Semi-Detached

72

165

237

$660,412

$447,075

$511,886

Yr./Yr. % Change

-18.2%

12.2%

0.9%

1.1%

9.0%

2.2%

Townhouse

112

275

387

$491,303

$420,866

$441,251

Yr./Yr. % Change

6.7%

-5.8%

-2.5%

10.0%

8.5%

9.4%

Condo Apartment

492

200

692

$376,845

$299,844

$354,590

Yr./Yr. % Change

8.8%

-7.0%

3.7%

3.1%

2.4%

3.6%