Toronto Real Estate Board



Toronto Real Estate Board

February 19, 2014 10:00 ET

Greater Toronto REALTORS® Report Latest Mid-Month Resale Market Figures

TORONTO, ONTARIO--(Marketwired - Feb. 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 %

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 37,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada's largest real estate board.

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