NEWS RELEASE



GTA REALTORS® Report Mid-Month Resale Market Figures

TORONTO, January 16, 2015 -- Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 1,409 sales through the TorontoMLS system during the first 14 days of January 2015. This result was up by 9.8 per cent compared to the same period in 2014. Sales were up on a year-over-year basis for many of the low-rise home types and for condominium apartments as well.

“Despite the cold weather, home buyers remained quite active during the first two weeks of the New Year. Households continued to take advantage of the diversity of affordable housing options available throughout the Greater Toronto Area,” said Mr. Etherington.

The average selling price for January mid-month transactions, at $510,532, was down slightly in comparison to the same period last year.

“The slight dip in the average selling price reflects the fact that we saw a different mix of homes sold this year compared to last year during the first two weeks of January, as evidenced by a lower average listing price. The month-end MLS® HPI Composite Benchmark price and the average selling price will provide a clearer view on prices,” said Jason Mercer, TREB’s Director of Market Analysis.

 

Summary of TorontoMLS Sales and Average Price January 1 - 14, 2015

2015

2014

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

513

505,564

1,646

482

516,346

1,347

Rest of GTA ("905")

896

513,377

2,272

801

516,785

1,978

GTA

1,409

510,532

3,918

1,283

516,620

3,325

 

TorontoMLS Sales & Average Price  By Home Type January 1 - 14, 2015

Sales

Average Price

416

905

Total

416

905

Total

Detached

122

487

609

$859,672

$621,872

$669,510

Yr./Yr. % Change

7.0%

14.6%

13.0%

-4.2%

-2.5%

-3.4%

Semi-Detached

37

95

132

$575,564

$455,663

$489,272

Yr./Yr. % Change

-2.6%

14.5%

9.1%

-2.0%

4.9%

1.4%

Townhouse

50

147

197

$462,223

$414,225

$426,407

Yr./Yr. % Change

-12.3%

-7.0%

-8.4%

5.5%

5.8%

5.6%

Condo Apartment

300

150

450

$362,471

$301,981

$342,307

Yr./Yr. % Change

11.9%

30.4%

17.5%

-0.7%

-2.0%

-1.6%