Mid October 2014 Resale Home Sales

Toronto Real Estate Board President Paul Etherington announced that residential sales reported through the TorontoMLS system during the first 14 days of October were up by 12.2 per cent compared to the same period in 2013. Over the same period, new listings entered into TorontoMLS were up by a lesser 5.9 per cent.

“We have seen a strong hand-off from the third quarter into the fourth quarter, as sales for all major home types were up. This suggests that a great diversity of home buyers remain active in today’s market, from first-time buyers looking for affordable home ownership options through to high income households looking to purchase a luxury property,” said Mr. Etherington.

The average selling price for sales during the first two weeks of October was $583,719 – up by 8.8 per cent compared to the same period in 2013. Overall price growth continued to be driven by the low-rise market segments, including detached and semi-detached houses and townhouses.

“Strong annual rates of price growth for low-rise home types were sustained, as sales growth continued to outpace growth in new listings. Sellers’ market conditions are expected to remain in place for the remainder of 2014 and into 2015 as well. This means that high single-digit rates of price growth for singles, semis and townhouses will likely remain the norm over the next few months,” said Jason Mercer, TREB’s Director of Market Analysis.

Source: TREB

October 1st - 14th 2014 2013

Sales VYA Average Price VYA New Listings   Sales Average Price New Listings
City of Toronto ("416") 1,483 11.2% $628,458 6.6% 2,547   1334 $589,541 2,266
Rest of GTA ("905") 2,267 12.8% $554,452 10.6% 3,538   2009 $501,474 3,481
GTA 3,750 12.2% $583,719 8.8% 6,085   3,343 $536,617 5,747
     
     
Detached 2014 Sales VYA Average Price VYA      
City of Toronto ("416") 528 10.7% $946,131 11.5%      
Rest of GTA ("905") 1365 20.2% $659,774 8.8%      
GTA 1893 17.4% $739,646 9.1%      
     
Semi-Detached 2014 Sales VYA Average Price VYA      
City of Toronto ("416") 149 15.5% $692,418 8.3%      
Rest of GTA ("905") 233 19.5% $447,110 8.7%      
GTA 382 17.9% $542,793 8.1%        
     
Townhouse 2014 Sales VYA Average Price VYA        
City of Toronto ("416") 159 16.1% $508,232 2.6%        
Rest of GTA ("905") 388 -1.8% $412,017 11.8%        
GTA 547 2.8% $439,985 9.6%        
     
Condo Apartment 2014 Sales VYA Average Price VYA        
City of Toronto ("416") 629 9.0% $381,709 -2.6%        
Rest of GTA ("905") 239 2.1% $301,250 -4.3%        
GTA 868 7.0% $359,555 -2.7%        
                 


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Donald Lum

Donald Lum

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