Mid Month January 2015 Resale Home Sales

Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 1,409 sales through the TorontoMLS system during the first 14 days of January 2015. This result was up by 9.8 per cent compared to the same period in 2014. Sales were up on a year-over-year basis for many of the low-rise home types and for condominium apartments as well.

“Despite the cold weather, home buyers remained quite active during the first two weeks of the New Year. Households continued to take advantage of the diversity of affordable housing options available throughout the Greater Toronto Area,” said Mr. Etherington.

The average selling price for January mid-month transactions, at $510,532, was down slightly in comparison to the same period last year.

“The slight dip in the average selling price reflects the fact that we saw a different mix of homes sold this year compared to last year during the first two weeks of January, as evidenced by a lower average listing price. The month-end MLS® HPI Composite Benchmark price and the average selling price will provide a clearer view on prices,” said Jason Mercer, TREB’s Director of Market Analysis.


2015 2014
January 1st - 14th Sales VYA New Listings Average Price VYA   Sales Average Price New Listings
City of Toronto ("416") 513 6.4% 1,646 $505,564 -2.1%   482 $516,346 1,347
Rest of GTA ("905") 896 11.9% 2,272 $513,377 -0.7%   801 $516,785 1,978
GTA 1,409 9.8% 3,918 $510,532 -1.2%   1,283 $516,620 3,325
     
     
Detached 2015 Sales VYA Average Price VYA      
City of Toronto ("416") 122 7.0% $859,672 -4.2%      
Rest of GTA ("905") 487 14.6% $621,872 -2.5%      
GTA 609 13.0% $669,510 -3.4%      
     
Semi-Detached 2015 Sales VYA Average Price VYA      
City of Toronto ("416") 37 -2.6% $575,564 -2.0%      
Rest of GTA ("905") 95 14.5% $455,663 4.9%      
GTA 132 9.1% $489,272 1.4%        
     
Townhouse 2015 Sales VYA Average Price VYA        
City of Toronto ("416") 50 -12.3% $462,223 5.5%        
Rest of GTA ("905") 147 -7.0% $414,225 5.8%        
GTA 197 -8.4% $426,407 5.6%        
     
Condo Apartment 2015 Sales VYA Average Price VYA        
City of Toronto ("416") 300 11.9% $362,471 -0.7%        
Rest of GTA ("905") 150 30.4% $301,981 -2.0%        
GTA 450 17.5% $342,307 -1.6%        
                 

Source: TREB Market Watch

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Donald Lum

Donald Lum

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