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September 2014 GTA REALTORS® Release Monthly Resale Housing Figures

October 3, 2014/0 Comments/in Market News/by TanTeam Editorial

TORONTO, October 3, 2014 — Toronto Real Estate Board President Paul Etherington announced that there were 8,051 transactions reported through the TorontoMLS system in September 2014. This result represented a 10.9 per cent increase compared to September 2013. On a year-to-date basis through the first three quarters of the year, sales were up by 6.9 […]

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

September 16, 2014/0 Comments/in Market News/by TanTeam Editorial

TORONTO, September 16, 2014 — Toronto Real Estate Board President Paul Etherington announced that Greater Toronto REALTORS® reported 3,297 sales through the TorontoMLS system during the first 14 days of September 2014. This result represented an 8.3 per cent increase compared to the same period in 2013. Year-to-date sales through September 14, at 68,731, were […]

September 2014 GTA REALTORS® Release Monthly Resale Housing Figures

October 3, 2014/0 Comments/in Market News/by TanTeam Editorial

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

September 16, 2014/0 Comments/in Market News/by TanTeam Editorial

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September 2014 GTA REALTORS® Release Monthly Resale Housing Figures

October 3, 2014/0 Comments/in Market News/by TanTeam Editorial

“Despite a persistent shortage of listings in some market segments, we have experienced strong growth in sales though the first nine months of 2014. This is evidence that GTA households remain upbeat about purchasing a home. The majority of home buyers purchase a home using a mortgage. The share of the average household’s income dedicated to their mortgage payment remains affordable, which is why buyer interest has remained solid,” said Mr. Etherington.

The average selling price for September 2014 transactions was $573,676 – up by 7.7 per cent compared to the same period in 2013. Average year-over-year price growth was strongest in the City of Toronto, both for low-rise home types like detached and semi-detached houses and for condominium apartments. The average selling price year-to-date was $563,813 – up 8.5 per cent compared to the first nine months of 2013.

“If the current pace of sales growth remains in place, we could be flirting with a new record for residential sales reported by TREB Members this year. On the pricing front, the multitude of willing buyers in the marketplace coupled with the short supply of listings will continue to translate into very strong annual rates of price growth in the fourth quarter,” said Jason Mercer, TREB’s Director of Market Analysis.

Source: Toronto Real Estate Board

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

September 16, 2014/0 Comments/in Market News/by TanTeam Editorial

“The sales result for the first two weeks of September showed strong growth for most major home types, indicating that home buyers continue to find homes that meet their needs and budgets. With a lot of buyers active in the marketplace relative to the number of homes for sale, average selling prices were up strongly for most low-rise and high-rise home ownership options,” said Mr. Etherington.

The average selling price for September mid-month sales was $555,890, which represented an increase of 8.1 per cent compared to the average price for the first two weeks of September 2013. Average price growth was strongest for single-detached and semi-detached homes.

The average year-to-date selling price was up by 8.5 per cent year-over-year to $562,244.

“Average prices in the low-rise market segments, including singles, semis and towns, continued to experience the impact of strong competition between buyers. It is also clear that while the condo apartment market segment remains comparatively better supplied, there are enough buyers relative to available condo listings to prompt very strong average price growth for this type of ownership housing as well,” said Jason Mercer, TREB’s Director of Market Analysis

Source: Toronto Real Estate Board