Mid Month December 2014 Resale Home Sales

Toronto Real Estate Board President Paul Etherington announced that Greater Toronto REALTORS® reported 2,496 sales through the TorontoMLS system during the first 14 days of December 2014. This result was up by 1.9 per cent compared to the same period in December 2013. Over the same period, new listings were down by 1.8 per cent year over year.

“Greater Toronto Area households remain upbeat about buying a home, as evidenced by the increase in sales compared to last year. However, many would-be home buyers continue to have problems getting a deal done due to the lack of listings for some home types. The lack of listings has definitely been a drag on sales this year,” said Mr. Etherington.

The average selling price for December mid-month transactions was $565,873, which represented a year-over-year increase of 8.6 per cent. Price growth was driven by the detached market segment in the City of Toronto.

“Sellers’ market conditions remain in place for low-rise home types, including detached and semi- detached houses and townhouses. The condominium apartment segment of the market has been more balanced due to strong project completions, but there has been enough buyer interest to prompt condo price growth above the rate of inflation,” said Jason Mercer, TREB’s Director of Market Analysis.

Source: TREB


2014 2013
December 1st - 14th Sales VYA New Listings Average Price VYA   Sales Average Price New Listings
City of Toronto ("416") 982 4.6% 1,214 $581,544 8.8%   939 $534,443 1,215
Rest of GTA ("905") 1,514 0.3% 1,636 $555,708 8.4%   1510 $512,798 1,687
GTA 2,496 1.9% 2,850 $563,873 8.2%   2,449 $521,098 2,902
     
     
Detached 2014 Sales VYA Average Price VYA      
City of Toronto ("416") 299 7.9% $936,761 15.2%      
Rest of GTA ("905") 833 1.3% $685,429 7.9%      
GTA 1132 3.0% $751,815 10.5%      
     
Semi-Detached 2014 Sales VYA Average Price VYA      
City of Toronto ("416") 72 -18.2% $660,412 1.1%      
Rest of GTA ("905") 165 12.2% $447,075 9.0%      
GTA 237 0.9% $511,886 2.2%        
     
Townhouse 2014 Sales VYA Average Price VYA        
City of Toronto ("416") 112 6.7% $491,303 10.0%        
Rest of GTA ("905") 275 -5.8% $420,866 8.5%        
GTA 387 -2.5% $441,251 9.4%        
     
Condo Apartment 2014 Sales VYA Average Price VYA        
City of Toronto ("416") 492 8.8% $376,845 3.1%        
Rest of GTA ("905") 200 -7.0% $299,844 2.4%        
GTA 692 3.7% $354,590 3.6%        



 

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Donald Lum

Donald Lum

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CENTURY 21 Leading Edge Realty Inc., Brokerage*
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