NEWS RELEASE



GTA REALTORS® ReLEASE Mid-Month Resale HOUSING Figures

TORONTO, June 16, 2015 -- Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 5,661 home sales through TREB’s MLS® System during the first two weeks of June 2015.  This result represented a 15.7 per cent increase compared to the same period in 2014.

“We continued to see a record pace of home sales in the first half of June, as home buyers remained upbeat on ownership housing as a quality long-term investment.  Growth in home sales was widespread, with year-over-year increases for all major home types, suggesting that households from many different age groups and walks of life are active in today’s market,” said Mr. Etherington.

The average selling price for transactions reported during the first 14 days of June was $650,732 – up 12 per cent in comparison to the first 14 days of June 2014.  Strong price growth was noted for low-rise home types and condominium apartments.

“The familiar story of strong demand running up against a constrained supply of homes for sale continued to play out in the first half of June.  Modest growth in new listings was not enough to offset the pent-up demand that has built during the first half of 2015.  As a result, strong competition between buyers continued to result in strong price growth,” said Jason Mercer, TREB’s Director of Market Analysis.

 

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

2015

2014

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

2,087

697,648

3,596

1,819

645,582

3,474

Rest of GTA ("905")

3,574

623,336

5,304

3,074

542,615

5,279

GTA

5,661

650,732

8,900

4,893

580,894

8,753

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

Sales

Average Price

416

905

Total

416

905

Total

Detached

716

2,159

2,875

$1,070,472

$745,288

$826,273

Yr./Yr. % Change

7.0%

19.2%

15.9%

13.0%

15.1%

13.4%

Semi-Detached

220

342

562

$744,569

$487,285

$588,001

Yr./Yr. % Change

5.8%

1.5%

3.1%

5.8%

7.9%

7.3%

Townhouse

251

634

885

$535,312

$460,785

$481,922

Yr./Yr. % Change

15.7%

15.9%

15.8%

10.0%

16.7%

14.5%

Condo Apartment

878

355

1,233

$433,968

$317,756

$400,509

Yr./Yr. % Change

23.5%

18.7%

22.1%

8.9%

5.5%

8.3%