Mid Month April 2015 Resale Home Sales

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.



2015 2014
April 1st - 14th Sales VYA New Listings Average Price VYA   Sales Average Price New Listings
City of Toronto ("416") 1,630 0.1% 3,222 $676,359 1.1%   1628 $668,739 3,225
Rest of GTA ("905") 3,005 5.3% 4,770 $597,328 11.4%   2855 $536,094 5,155
GTA 4,635 3.4% 7,992 $625,121 7.0%   4,483 $584,264 8,380
     
     
Detached 2015 Sales VYA Average Price VYA      
City of Toronto ("416") 566 -8.6% $1,057,687 4.1%      
Rest of GTA ("905") 1753 7.2% $719,674 12.5%      
GTA 2319 2.8% $802,173 8.0%      
     
Semi-Detached 2015 Sales VYA Average Price VYA      
City of Toronto ("416") 174 7.4% $712,872 1.6%      
Rest of GTA ("905") 286 -9.2% $487,263 11.2%      
GTA 460 -3.6% $572,602 8.5%        
     
Townhouse 2015 Sales VYA Average Price VYA        
City of Toronto ("416") 178 6.6% $561,247 14.7%        
Rest of GTA ("905") 560 4.1% $444,386 8.2%        
GTA 738 4.7% $472,572 10.1%        
     
Condo Apartment 2015 Sales VYA Average Price VYA        
City of Toronto ("416") 695 3.7% $391,937 1.0%        
Rest of GTA ("905") 322 11.8% $313,495 5.3%        
GTA 1017 6.2% $367,101 1.8%        


Source: TREB Market Watch


 

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Donald Lum

Donald Lum

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CENTURY 21 Leading Edge Realty Inc., Brokerage*
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