Toronto and the GTA’s Resale Market is on Fire: Average selling price was up by 9.4 per cent

Greater Toronto REALTOR'S® Report Resale Housing Mid-Month Market Figures


Toronto Real Estate Board President Paul Etherington announced mid-month figures for August 2014 that point to continued strength in the GTA housing market. There were 3,504 sales reported through the TorontoMLSsystem during the first 14 days of August. This result was up by 7.6 per cent compared to the same period in August 2013.

“Sales were up strongly for all major home types across the GTA through the first two weeks of August. This means that many different types of buyers were active in the marketplace, including first-time buyers purchasing newly listed condominium apartments and existing homeowners changing their housing situation to meet their current needs,” said Mr. Etherington.

Tight market conditions, especially for detached and semi-detached houses, drove strong price growth in the first half of August. The overall average selling price was up by 9.4 per cent year-over-year to $538,530. The strongest price growth was experienced in the detached market segment, with the average detached price up by 12.3 per cent year-over-year.

“During the first 14 days of August, the number of home sales grew at a faster pace year-over-year compared to the number of homes listed for sale. This means that competition between buyers increased relative to the same period last year, which explains the continuation of very strong average price growth in the GTA,” said Jason Mercer, TREB’s Director of Market Analysis.



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

2014
2013
Sales
Average Price
New Listings
Sales
Average Price
New Listings
City of Toronto ("416")
1,285
539,829
2,175
1,138
506,558
2,134
Rest of GTA ("905")
2,219
537,778
3,766
2,117
484,412
3,603
GTA
3,504
538,530
5,941
3,255
492,155
5,737




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

Sales
Average Price
416
905
Total
416
905
Total
Detached
373
1,249
1,622
$843,138
$647,387
$692,402
Yr./Yr. % Change
12.3%
4.8%
6.4%
10.6%
12.3%
12.3%
Semi-Detached
127
246
373
$617,364
$445,815
$504,224
Yr./Yr. % Change
30.9%
2.5%
10.7%
6.1%
9.0%
9.9%
Townhouse
132
424
556
$438,519
$403,626
$411,910
Yr./Yr. % Change
5.6%
-0.2%
1.1%
4.1%
7.8%
7.0%
Condo Apartment
640
241
881
$370,907
$305,943
$353,136
Yr./Yr. % Change
11.1%
15.9%
12.4%
1.3%
8.1%
2.6%



GET THE LATEST NEWS AND INFORMATION FROM REAL ESTATE SNATCH

TWITTERYOU TUBEFACEBOOK

Greater Toronto REALTOR'S® 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 39,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board.
Greater Toronto Area open house listings are available on www.realestatesnatch.com

Follow REAL ESTATE SNATCH On Twitter and Facebook!




Read more from REAL ESTATE SNATCH Post blog:




No comments:

Get Real Estate Tips

About Us

Get Free Email Updates to your Inbox!

Follow Us On Social Media

REAL ESTATE SNATCH is the independent real estate blog of Samir Safadi, Sales Representative of West-100 Metro View Realty Ltd, brokerage it is dedicated to covering Real Estate News, digital culture, social media and technology, providing analysis of trends, Market Data , reviewing new development. Offering Real Estate services resources and guides. Services are provided to prospective buyers and sellers of real estate by Samir Safadi, Sales Representative, West-100 Metro View Realty Ltd, brokerage, duly registered in the province of Ontario, under Real Estate and Business Brokers Act, 2002 (REBBA 2002) and Member in good standing with

 

 

©Copyright 2009-2022 REAL ESTATE SNATCH All Rights Reserved Registration on or use of this site constitutes acceptance of our

 

User Agreement | Disclaimer | Comment Policy | Privacy Policy | About Us | Contact Us | Site Map

Search This Blog