Greater Toronto REALTORS(R) Report Toronto MLS Housing Figures

TORONTO, ONTARIO--(Marketwired - Sept. 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 up by 6.6 per cent compared to the same period in 2013.

"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.

Summary of TorontoMLS Sales and Average Price September 1 - 14

	2014			2013
	Sales	Average Price	New Listings	Sales	Average Price	New Listings
City of Toronto ("416")	1,203	$594,033	3,157	1,110	$531,133	2,996
Rest of GTA ("905")	2,094	$533,977	4,380	1,934	$504,357	4,507
GTA	3,297	$555,890	7,537	3,044	$514,121	7,503

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

		Sales			Average Price
		416	905	Total	416	905	Total
Detached		385	1,191	1,576	912,403	640,275	706,753
	Yr./Yr. % Change	8.5%	5.4%	6.1%	12.2%	6.6%	8.5%
Semi-Detached		121	229	350	670,180	452,813	527,960
	Yr./Yr. % Change	21.0%	15.7%	17.4%	14.8%	12.1%	13.8%
Townhouse		114	367	481	466,522	408,445	422,209
	Yr./Yr. % Change	-11.6%	1.1%	-2.2%	5.5%	6.8%	6.1%
Condo Apartment		568	255	823	390,727	296,340	361,482
	Yr./Yr. % Change	9.7%	26.2%	14.3%	10.2%	0.5%	7.0%

Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 39,000 TREB Members serve consumers in the Greater Toronto Area.

TREB is Canada's largest real estate board.