GTA Resale Home Sales up by 11% in 2015

(TREB NEWS RELEASE)
TORONTO, March 4, 2015 – Toronto Real Estate Board President Paul Etherington announced that
Greater Toronto Area REALTORS® reported 6,338 home sales through the TorontoMLS system in
February 2015. This result represented a substantial 11.3 per cent year-over-year increase compared to
February 2014. Large annual increases in transactions were noted for most major home types, in the
City of Toronto and surrounding GTA regions.
“Even with the record low temperatures last month, we still saw an increase in the number of people
purchasing homes in the GTA. This speaks to the importance households place on home ownership and
the fact that buyers continue toview ownership housing as a quality long-term investment in which they
can live,” said Mr. Etherington.
The overall supply of homes for sale, as measured by the count of active listings at the end of February
2015, was down by 8.7 per cent compared to the same count in February 2014. This means that market
conditions became tighter, leading to more competition between buyers.
The overall average selling price for February 2015 home sales was $596,163 – up by 7.8 per cent
compared to the average for February 2014. Driving this increase was the detached market segment. In
the City of Toronto, the average detached selling price moved above $1 million dollars for the first time in
a calendar month.
“The strong year-over-year price growth we experienced in February points to the robust demand for
ownership housing in the GTA, coupled with a constrained supply of homes for sale in some market
segments, especially where low-rise home types like singles, semis and townhouses are concerned,” said
Jason Mercer, TREB’s Director of Market Analysis.
Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a
state-of-the-art Multiple Listing Service. Over 40,000 TREB Members serve consumers in the Greater Toronto Area. TREB
is Canada’s largest real estate board.

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Mohammed Ahmed

Mohammed Ahmed

Sales Representative
CENTURY 21 Innovative Realty Inc., Brokerage*
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