Mid Month February 2015 Resale Home Sales

Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported a 14.9 per cent increase in the number of sales entered into the TorontoMLS system during the first two weeks of February 2015 compared to the same period in 2014. There was a total of 3,120 home sales during the first 14 days of February 2015.

The number of new listings entered into the TorontoMLS system was also up on a year-over- year basis, but by a lesser annual rate of 3.5 per cent.

“As households continue to take advantage of the great diversity of home ownership options in the Greater Toronto Area, home sales have continued to trend upwards. While home prices are higher compared to this time last year, borrowing costs are lower. Home buyers are still finding affordable options to meet their housing needs,” said TREB President Paul Etherington.

The average selling price for the first half of February 2015 was $602,110, representing a 10.3 per cent increase compared to the average reported for the same period in 2014. Annual price growth continued to be driven by the tight low-rise market segment, with double-digit growth reported for detached and semi-detached homes.

“With tight market conditions continuing to prevail in most parts of the Greater Toronto Area, especially where low-rise home types are concerned, it is no surprise that we continue to see strong competition between buyers leading to robust annual rates of price growth,” said Jason Mercer, TREB’s Director of Market Analysis. 

Source: TREB Market Watch


2015 2014
February 1st - 14th
Sales VYA New Listings Average Price VYA   Sales Average Price New Listings
City of Toronto ("416") 1,174 16.1% 2,178 $642,116 8.3%   1011 $592,822 2,061
Rest of GTA ("905") 1,946 14.2% 3,135 $577,975 11.5%   1704 $518,212 3,070
GTA 3,120 14.9% 5,313 $602,110 10.3%   2,715 $545,995 5,131
     
     
Detached 2015 Sales VYA Average Price VYA      
City of Toronto ("416") 386 25.3% $1,056,238 10.9%      
Rest of GTA ("905") 1113 16.2% $697,417 9.9%      
GTA 1499 18.4% $789,815 10.9%      
     
Semi-Detached 2015 Sales VYA Average Price VYA      
City of Toronto ("416") 95 18.8% $717,556 3.4%      
Rest of GTA ("905") 202 4.7% $475,894 13.2%      
GTA 297 8.8% $553,194 10.5%        
     
Townhouse 2015 Sales VYA Average Price VYA        
City of Toronto ("416") 116 23.4% $510,839 -9.9%        
Rest of GTA ("905") 380 27.1% $438,968 14.1%        
GTA 496 26.2% $455,777 6.4%        
     
Condo Apartment 2015 Sales VYA Average Price VYA        
City of Toronto ("416") 564 8.9% $373,934 -0.1%        
Rest of GTA ("905") 212 -3.2% $309,930 7.8%        
GTA 776 5.3% $356,448 2.3%        
                 

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Donald Lum

Donald Lum

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CENTURY 21 Leading Edge Realty Inc., Brokerage*
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