Mid February 2014 Resale Home Sales

Toronto Real Estate Board President Dianne Usher announced that “sales growth has rebounded so far in February after a slow start to the year in January. While new listings were still down in comparison to last year, the annual rate of decline was less than experienced last month. This may point to an improvement in the listings situation moving forward, which would help alleviate some of the pent-up demand that currently exists in the marketplace."

Greater Toronto Area REALTORS® reported 2,767 sales through the TorontoMLS system during the first 14 days of February. This result was up by 1.3 per cent in comparison to 2,731 transactions reported during the same period in 2013. New listings were down by 6.1 per cent on a year-over-year basis.

"Price growth well above the rate of inflation will be the norm for the remainder of the year. Over the same period, mortgage rates are expected to remain low, thereby keeping home ownership affordable in the GTA," said Jason Mercer, TREB's Senior Manager of Market Analysis.

The average selling price during the first two weeks of February 2014 was $547,107 up 7.8 per cent compared to the average of $507,474 for the first 14 days of February 2013.

Source: TREB

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    2014     2013  
  Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 1,038 $594,129 2,084 1060 $554,294 2,202
Rest of GTA ("905") 1,729 $518,877 3,111 1671 $477,774 3,331
GTA 2,767 $547,107 5,195 2,731 $507,474 5,533
             
             
Detached 2014 Sales VYA   Average Price VYA  
City of Toronto ("416") 325 -12.4%   $942,066 15.2%  
Rest of GTA ("905") 978 4.7%   $634,146 10.2%  
GTA 1303 -0.2%   $710,949 10.4%  
             
Semi-Detached 2014 Sales VYA   Average Price VYA  
City of Toronto ("416") 84 -23.6%   $685,111 9.6%  
Rest of GTA ("905") 197 15.2%   $419,972 4.7%  
GTA 281 0.0%   $499,230 2.1%  
             
Townhouse 2014 Sales VYA   Average Price VYA  
City of Toronto ("416") 96 -15.0%   $568,894 27.4%  
Rest of GTA ("905") 300 -6.8%   $384,468 2.2%  
GTA 396 -9.0%   $429,177 8.8%  
             
Condo Apartment 2014 Sales VYA   Average Price VYA  
City of Toronto ("416") 521 15.8%   $373,576 5.0%  
Rest of GTA ("905") 219 5.8%   $287,433 4.2%  
GTA 740 12.6%   $348,082 5.3%  
             

 

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Donald Lum

Donald Lum

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CENTURY 21 Leading Edge Realty Inc., Brokerage*
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