NEWS RELEASE



GTA REALTORS® RePORT Mid-Month Resale HOUSING Figures

TORONTO, April 16, 2015 -- Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 4,635 home sales during the first 14 days of April 2015.  This result represented a 3.4 per cent increase compared to April 2014.  New listings over the same period were down by 4.6 per cent year over year.

“Home sales in the GTA continued to increase in comparison to 2014 as a diversity of buyers took advantage of affordable home ownership options.  However, in many neighbourhoods, listings remain scarce, particularly for ground-oriented home types like singles, semis and towns.  Given the amount of pent-up demand in the market today, sales growth would accelerate further if more homes were listed for sale,” said Mr. Etherington.

The average selling price for April mid-month home sales was $625,121 – up seven per cent in comparison to the same time frame in 2014.  Average prices were up for all major home types, both in the City of Toronto and the surrounding regions.

“We are experiencing balanced to seller’s market conditions in most areas and market segments in the GTA.  This suggests that home ownership demand is being driven by a wide swath of the population.  On one hand, strong growth in condo listings has been met with strong growth in condo sales.  On the other hand, we have also experienced growth in higher-end home sales,” said Jason Mercer, TREB’s Director of Market Analysis.

 

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

2015

2014

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

1,630

$676,359

3,222

1,628

$668,739

3,225

Rest of GTA ("905")

3,005

$597,328

4,770

2,855

$536,094

5,155

GTA

4,635

$625,121

7,992

4,483

$584,264

8,380

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

Sales

Average Price

416

905

Total

416

905

Total

Detached

566

1,753

2,319

$1,057,687

$719,674

$802,173

Yr./Yr. % Change

-8.6%

7.2%

2.8%

4.1%

12.5%

8.0%

Semi-Detached

174

286

460

$712,872

$487,263

$572,602

Yr./Yr. % Change

7.4%

-9.2%

-3.6%

1.6%

11.2%

8.5%

Townhouse

178

560

738

$561,247

$444,386

$472,572

Yr./Yr. % Change

6.6%

4.1%

4.7%

14.7%

8.2%

10.1%

Condo Apartment

695

322

1,017

$391,937

$313,495

$367,101

Yr./Yr. % Change

3.7%

11.8%

6.2%

1.0%

5.3%

1.8%