Market Watch 2014 August

August 2014 

 Annual Growth in Home Sales Continued in August
TORONTO, September 4, 2014 – Toronto Real Estate Board President Paul 
Etherington reported 7,600 sales through the TorontoMLS system in August 2014. This 
result was up by 2.8 per cent compared to 7,391 transactions reported in August 2013. 
Year-to-date sales through the end of August amounted to 65,454, which represented 
an increase of 6.5 per cent compared to the same period in 2013.
“The last full month of summer ended on a high note. As we look toward the fall 
market, I expect that demand for ownership housing will remain strong. Home buyers 
will continue to benefit from a diversity of affordable home ownership opportunities 
throughout the GTA. The fact that sales were up for all major home types in August 
suggests that first-time buyers and existing home owners remain very active in today’s 
marketplace,” said Mr. Etherington.
The average selling price in August 2014 was $546,303 – up 8.9 per cent in comparison 
to the average of $501,677 reported in August 2013. The year-to-date average price 
through August was $562,504, which represented an increase of 8.5 per cent in 
comparison to the same period in 2013.
“The number of listings in August was down in comparison to last year, while the 
number of sales increased. This means that sellers’ market conditions remained in 
place with a lot of competition between buyers. This is why we continued to see strong 
price growth last month. Looking forward, if sales growth continues to outstrip listings 
growth, the average selling price should continue to increase on a year-over-year 
basis,” said Jason Mercer, TREB’s Director of Market Analysis. 

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Alla Marchenko

Alla Marchenko

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