GREATER TORONTO REALTORS® REPORT RESALE HOUSING MARKET FIGURES

TORONTO, June 4, 2014 – Toronto Real Estate Board President Dianne Usher
announced that both the number of home sales through the TorontoMLS system and
the average selling price were up strongly in May compared to a year ago.
Total TorontoMLS sales for May 2014 amounted to 11,079 – a new high for the month
of May. This result was up by 11.4 per cent compared to 9,946 sales reported in May
2013. The average selling price for these sales was $585,204, representing an 8.3 per
cent year-over-year increase compared to the average price of $540,544 in May 2013.
“We are now at the peak of the spring market when we generally see the greatest
number of sales and the highest average selling prices. Based on the May statistics,
buyers have been more active this spring compared to last year. Despite strong price
growth so far in 2014, many households remain comfortable with the monthly mortgage
payments associated with the purchase of a home, as borrowing costs have remained
at or near record lows over the past few months,” said Ms. Usher.

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Rajan Sharma

Rajan Sharma

Sales Representative
CENTURY 21 People's Choice Realty Inc., Brokerage*
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