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TORONTO, January 7, 2015 — Toronto Real Estate Board President Paul Etherington announced that Greater Toronto REALTORS® reported 92,867 residential sales through the TorontoMLS system in 2014, including 4,446 in December. The calendar year 2014 sales result represented a 6.7 per cent increase over the 2013 sales figure of 87,049 and was just short of the record set in 2007.

“TREB’s 2014 sales figures are a testament to the importance Greater Toronto Area households continue to place on home ownership. GTA households realize that home purchases have been a quality long-term investment. While home prices certainly increased substantially in 2014, the purchase of an average priced home remained affordable, in terms of the average household’s ability to comfortably cover their monthly mortgage payments,” said Mr. Etherington.

The average selling price continued to grow on a year-over-year basis in calendar year 2014, with an 8.4 per cent increase over calendar year 2013 to $566,726. This included a seven per cent increase in the December 2014 average selling price to $556,602. Throughout 2014, annual increases in the average selling price and the MLS® HPI Composite Benchmark were consistently reported on a monthly basis for most market segments, from detached homes through to condominium apartments.

“The strong price growth we experienced in 2014 can be explained with two words: listings shortage. The constrained supply of listings was especially evident for low-rise home types like singles, semis and town houses. The number of households looking to purchase these home types increased, while the number of homes from which they could choose decreased. This situation resulted in more competition between buyers and more aggressive offers,” said Jason Mercer, TREB’s Director of Market Analysis.

Source: The Toronto Real Estate Board

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 semi-detached 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.

Source: The Toronto Real Estate Board

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December 2014 GTA REALTORS® Release Monthly Resale Housing Figures

December 2014 GTA REALTORS® Release Mid-Month Resale Housing Figures

December 2014 GTA REALTORS® Release Monthly Resale Housing Figures

December 2014 GTA REALTORS® Release Mid-Month Resale Housing Figures

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December 2014 GTA REALTORS® Release Monthly Resale Housing Figures

December 2014 GTA REALTORS® Release Mid-Month Resale Housing Figures

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