NEWS RELEASE



GTA REALTORS® ReLEASE Mid-Month Resale HOUSING Figures

TORONTO, February 18, 2015 -- Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported a 14.9 per cent increase in the number of sales entered into the TorontoMLS system during the first two weeks of February 2015 compared to the same period in 2014.  There was a total of 3,120 home sales during the first 14 days of February 2015. 

The number of new listings entered into the TorontoMLS system was also up on a year-over-year basis, but by a lesser annual rate of 3.5 per cent. 

“As households continue to take advantage of the great diversity of home ownership options in the Greater Toronto Area, home sales have continued to trend upwards.  While home prices are higher compared to this time last year, borrowing costs are lower.  Home buyers are still finding affordable options to meet their housing needs,” said TREB President Paul Etherington. 

The average selling price for the first half of February 2015 was $602,110, representing a 10.3 per cent increase compared to the average reported for the same period in 2014.  Annual price growth continued to be driven by the tight low-rise market segment, with double-digit growth reported for detached and semi-detached homes. 

“With tight market conditions continuing to prevail in most parts of the Greater Toronto Area, especially where low-rise home types are concerned, it is no surprise that we continue to see strong competition between buyers leading to robust annual rates of price growth,” said Jason Mercer, TREB’s Director of Market Analysis

 

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

 

2015

2014

 

Sales

Average Price

New Listings

Sales

Average Price

New Listings

 

City of Toronto ("416")

1,174

642,116

2,178

1,011

592,822

2,061

 

Rest of GTA ("905")

1,946

577,975

3,135

1,704

518,212

3,070

 

GTA

3,120

602,110

5,313

2,715

545,995

5,131

 

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

Sales

Average Price

416

905

Total

416

905

Total

Detached

386

1,113

1,499

$1,056,238

$697,417

$789,815

Yr./Yr. % Change

25.3%

16.2%

18.4%

10.9%

9.9%

10.9%

Semi-Detached

95

202

297

$717,556

$475,894

$553,194

Yr./Yr. % Change

18.8%

4.7%

8.8%

3.4%

13.2%

10.5%

Townhouse

116

380

496

$510,839

$438,968

$455,777

Yr./Yr. % Change

23.4%

27.1%

26.2%

-9.9%

14.1%

6.4%

Condo Apartment

564

212

776

$373,934

$309,930

$356,448

Yr./Yr. % Change

8.9%

-3.2%

5.3%

-0.1%

7.8%

2.3%

 

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%