TORONTO, December 16, 2014 – Toronto Real Estate Board President Paul Etherington announced that
Greater Toronto REALTORS® reported 2,496 sales through the TorontoMLS system during the first 14
days of December 2014. This result was up by 1.9 per cent compared to the same period in December
2013. Over the same period, new listings were down by 1.8 per cent year over year.
“Greater Toronto Area households remain upbeat about buying a home, as evidenced by the increase in
sales compared to last year. However, many would-be home buyers continue to have problems getting a
deal done due to the lack of listings for some home types. The lack of listings has definitely been a drag
on sales this year,” said Mr. Etherington.
The average selling price for December mid-month transactions was $565,873, which represented a
year-over-year increase of 8.6 per cent. Price growth was driven by the detached market segment in the
City of Toronto.
“Sellers’ market conditions remain in place for low-rise home types, including detached and semidetached
houses and townhouses. The condominium apartment segment of the market has been more
balanced due to strong project completions, but there has been enough buyer interest to prompt condo
price growth above the rate of inflation,” said Jason Mercer, TREB’s Director of Market Analysis.