TORONTO, July 18, 2014 – Toronto Real Estate Board President Paul Etherington announced
robust results for the condominium apartment market in the second quarter of 2014. Q2 sales
were up by 10.4 per cent compared to the same period in 2013. New listings were up over the
same period, but by a lesser 4.4 per cent.

“Condominium apartments represent an affordable entry point into the market for first time
buyers. On top of this, some condo properties cater to households looking to move out of their
traditional low-rise home, and we are increasingly seeing households choose condos as the
place where they will raise a family. This diversity of buyers explains why sales more than kept
up with increased listings in the second quarter,” said Toronto Real Estate Board President Paul

The average selling price for condominium apartments in the second quarter was up by 5.5 per
cent year-over-year to $367,010. In the City of Toronto, which accounted for 71 per cent of total
sales, the average selling price was $392,739, representing an increase of 5.3 per cent.

“Even though inventory levels for condo apartments have been higher compared to inventory of
low-rise home types like singles, semis and towns, there has been enough demand relative to
supply to see strong price growth. Even as inventory levels increase due to record occupancies
in 2013, we should see enough demand to sustain price growth above the rate of inflation in the
second half of this year,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Rudy Reznik

Rudy Reznik

CENTURY 21 Atria Realty Inc., Brokerage*
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