GTA REALTORS® Report Latest Mid-Month Resale Market Figures
Posted by: Toronto Real Estate Admin / Category: Toronto Realtor
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%
For information about Buyer Representation Agreements
(BRA) visit www.BRAFirst.ca
For Media/Public Inquiries: Mary Gallagher, Senior
Manager Media Relations.
Toronto
Real Estate Board 1400 Don Mills Road Toronto, ON M3B 3N1, Office: (416)
443-8158, Email:maryg@trebnet.com
Greater Toronto REALTORS are passionate about their work.
They adhere to a strict Code of Ethics and share a state-of-the-art Multiple
Listing Service. Serving over 37,000 Members in the Greater Toronto Area,
the Toronto Real Estate Board is Canadas largest real estate board. Greater
Toronto Area open house listings are available on www.TorontoRealEstateBoard.com
Article source: http://www.torontorealestateboard.com/market_news/release_market_updates/news2014/nr_mid_month_0214.htm
Tags: Toronto Realtor