NEWS RELEASE 

 


GTA REALTORS® REPORT LATEST MID-MONTH RESALE MARKET FIGURES

 

TORONTO, February 19, 2014 -- Toronto Real Estate Board President Dianne Usher announced that “sales growth has rebounded so far in February after a slow start to the year in January.  While new listings were still down in comparison to last year, the annual rate of decline was less than experienced last month.  This may point to an improvement in the listings situation moving forward, which would help alleviate some of the pent-up demand that currently exists in the marketplace."

 

Greater Toronto Area REALTORS® reported 2,767 sales through the TorontoMLS system during the first 14 days of February.  This result was up by 1.3 per cent in comparison to 2,731 transactions reported during the same period in 2013.  New listings were down by 6.1 per cent on a year-over-year basis.

 

"Price growth well above the rate of inflation will be the norm for the remainder of the year.  Over the same period, mortgage rates are expected to remain low, thereby keeping home ownership affordable in the GTA," said Jason Mercer, TREB's Senior Manager of Market Analysis.

 

The average selling price during the first two weeks of February 2014 was $547,107 – up 7.8 per cent compared to the average of $507,474 for the first 14 days of February 2013.


 

Summary of TorontoMLS Sales and Average Price February 1 - 14, 2014

 

2014

2013

 

Sales

Average Price

New Listings

Sales

Average Price

New Listings

 

City of Toronto ("416")

1,038

594,129

2,084

1,060

554,294

2,202

 

Rest of GTA ("905")

1,729

518,877

3,111

1,671

477,774

3,331

 

GTA

2,767

547,107

5,195

2,731

507,474

5,533

 

TorontoMLS Sales & Average Price  By Home Type February 1 - 14, 2014

 

 

 

 

 

 

 

Sales

Average Price

416

905

Total

416

905

Total

Detached

325

978

1,303

$942,066

$634,146

$710,949

Yr./Yr. % Change

-12.4%

4.7%

-0.2%

15.2%

10.2%

10.4%

Semi-Detached

84

197

281

$685,111

$419,972

$499,230

Yr./Yr. % Change

-23.6%

15.2%

0.0%

9.6%

4.7%

2.1%

Townhouse

96

300

396

$568,894

$384,468

$429,177

Yr./Yr. % Change

-15.0%

-6.8%

-9.0%

27.4%

2.2%

8.8%

Condo Apartment

521

219

740

$373,576

$287,433

$348,082

Yr./Yr. % Change

15.8%

5.8%

12.6%

5.0%

4.2%

5.3%

 

 

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