Mid May 2015 Report

Mid Month May 2015 Resale Home Sales

According to Toronto Real Estate Board President Paul Etherington, there was a 9.6 per cent year-over-year increase in home sales reported by Greater Toronto Area REALTORS® during the first 14 days of May. There were 5,655 sales reported in the first two weeks of May 2015 compared to 5,160 sales during the same period in May 2014.

“It is clear that demand for ownership housing remains very strong in the GTA. So much so that, if the pace of sales experienced in the first half of this month is sustained in the second half, we will see record home sales for the month of May,” said Mr. Etherington.

The average selling price for transactions reported during the first 14 days of May was $652,882 for all home types combined – up by 10.7 per cent compared to the first two weeks of May 2014. The strongest price growth was experienced in the detached market segment, with the average price up by 13.8 per cent.

“The low-rise market segments, including detached home sales, have been the driver of average price growth in the GTA this year. As market conditions have tightened, average price growth has remained very strong. However, while tighter market conditions have been a key factor, so too has been a shift to higher priced homes. Detached sales growth in the City of Toronto, for example, has been strongest for high-end homes. The resulting change in the mix of homes sold has also been an important factor in pushing the average price higher,” said Jason Mercer, TREB’s Director of Market Analysis. 

 

May 1st - 14th

2015

2014

 

Sales

VYA

New Listings

Average Price

VYA

Sales

Average Price

New Listings

City of Toronto ("416")

2,038

6.0%

3,222

$732,709

10.7%

1922

$661,730

3,488

Rest of GTA ("905")

3,617

11.7%

4,770

$607,747

11.2%

3238

$546,748

5,417

GTA

5,655

9.6%

7,992

$652,782

10.7%

5,160

$589,576

8,905

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Detached 2015

Sales

VYA

 

Average Price

VYA

 

 

 

City of Toronto ("416")

720

-1.9%

 

$1,140,962

18.4%

 

 

 

Rest of GTA ("905")

2094

9.5%

 

$734,380

13.0%

 

 

 

GTA

2814

6.3%

 

$838,409

13.8%

 

 

 

 

 

 

 

 

 

 

 

 

Semi-Detached 2015

Sales

VYA

 

Average Price

VYA

 

 

 

City of Toronto ("416")

221

0.0%

 

$762,560

7.9%

 

 

 

Rest of GTA ("905")

401

12.0%

 

$486,367

8.4%

 

 

 

GTA

622

7.4%

 

$584,500

6.8%

 

 

 

 

 

 

 

 

 

 

 

 

Townhouse 2015

Sales

VYA

 

Average Price

VYA

 

 

 

City of Toronto ("416")

256

14.8%

 

$558,796

11.8%

 

 

 

Rest of GTA ("905")

642

11.5%

 

$453,701

11.3%

 

 

 

GTA

898

12.4%

 

$483,661

11.6%

 

 

 

 

 

 

 

 

 

 

 

 

Condo Apartment 2015

Sales

VYA

 

Average Price

VYA

 

 

 

City of Toronto ("416")

826

13.8%

 

$425,451

7.2%

 

 

 

Rest of GTA ("905")

374

17.6%

 

$315,167

3.4%

 

 

 

GTA

1200

14.9%

 

$391,079

6.1%

 

 

 

Source: TREB

 

 

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HenryL Lam

HenryL Lam

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