Mid September 2014 Resale Home Sales

Toronto Real Estate Board President Paul Etherington announced that Greater Toronto REALTORS® reported 3,297 sales through the TorontoMLS system during the first 14 days of September 2014. This result represented an 8.3 per cent increase compared to the same period in 2013. Year-to-date sales through September 14, at 68,731, were up by 6.6 per cent compared to the same period in 2013.

“The sales result for the first two weeks of September showed strong growth for most major home types, indicating that home buyers continue to find homes that meet their needs and budgets. With a lot of buyers active in the marketplace relative to the number of homes for sale, average selling prices were up strongly for most low-rise and high-rise home ownership options,” said Mr. Etherington.

The average selling price for September mid-month sales was $555,890, which represented an increase of 8.1 per cent compared to the average price for the first two weeks of September 2013. Average price growth was strongest for single-detached and semi-detached homes.

The average year-to-date selling price was up by 8.5 per cent year-over-year to $562,244.

“Average prices in the low-rise market segments, including singles, semis and towns, continued to experience the impact of strong competition between buyers. It is also clear that while the condo apartment market segment remains comparatively better supplied, there are enough buyers relative to available condo listings to prompt very strong average price growth for this type of ownership housing as well,” said Jason Mercer, TREB’s Director of Market Analysis.

 

 September (1st to 14th) 2014           2013    
  Sales VYA New Listings Average Price VYA   Sales Average Price New Listings
City of Toronto ("416") 1,203 8.4% 3,157 $594,033 11.8%   1110 $531,133 2,996
Rest of GTA ("905") 2,094 8.3% 4,380 $533,977 5.9%   1934 $504,357 4,507
GTA 3,297 8.3% 7,537 $555,890 8.1%   3,044 $514,121 7,503
                   
                   
Detached 2014 Sales VYA   Average Price VYA        
City of Toronto ("416") 385 8.5%   $912,403 12.2%        
Rest of GTA ("905") 1191 5.4%   $640,275 6.6%        
GTA 1576 6.1%   $706,753 8.5%        
                   
Semi-Detached 2014 Sales VYA   Average Price VYA        
City of Toronto ("416") 121 21.0%   $670,180 14.8%        
Rest of GTA ("905") 229 15.7%   $452,813 12.1%        
GTA 350 17.4%   $527,960 13.8%        
                   
Townhouse 2014 Sales VYA   Average Price VYA        
City of Toronto ("416") 114 -11.6%   $466,522 5.5%        
Rest of GTA ("905") 367 1.1%   $408,445 6.8%        
GTA 481 2.2%   $422,209 6.1%        
                   
Condo Apartment 2014 Sales VYA   Average Price VYA        
City of Toronto ("416") 568 9.7%   $390,727 10.2%        
Rest of GTA ("905") 255 26.2%   $296,340 0.5%        
GTA 823 14.3%   $361,482 7.0%        

 

Source: TREB

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Donald Lum

Donald Lum

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
Contact Me