Toronto Real Estate Board

Toronto Real Estate Board

December 16, 2014 09:46 ET

Greater Toronto REALTORS® Report Mid Month Housing Market Figures

TORONTO, ONTARIO--(Marketwired - Dec. 16, 2014) - Toronto Real Estate Board President Paul Etherington announced that Greater Toronto REALTORS® reported 2,496 sales through the TorontoMLS system during the first 14 days of December 2014. This result was up by 1.9 per cent compared to the same period in December 2013. Over the same period, new listings were down by 1.8 per cent year over year.

"Greater Toronto Area households remain upbeat about buying a home, as evidenced by the increase in sales compared to last year. However, many would-be home buyers continue to have problems getting a deal done due to the lack of listings for some home types. The lack of listings has definitely been a drag on sales this year," said Mr. Etherington.

The average selling price for December mid-month transactions was $565,873, which represented a year-over-year increase of 8.6 per cent. Price growth was driven by the detached market segment in the City of Toronto.

"Sellers' market conditions remain in place for low-rise home types, including detached and semi-detached houses and townhouses. The condominium apartment segment of the market has been more balanced due to strong project completions, but there has been enough buyer interest to prompt condo price growth above the rate of inflation," said Jason Mercer, TREB's Director of Market Analysis.

Summary of TorontoMLS Sales and Average Price December 1-14, 2014
2014 2013
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 982 581,544 1,214 939 534,443 1,215
Rest of GTA ("905") 1,514 555,708 1,636 1,510 512,798 1,687
GTA 2,496 565,873 2,850 2,449 521,098 2,902
TorontoMLS Sales & Average Price By Home Type December 1-14, 2014
Sales Average Price
416 905 Total 416 905 Total
Detached 299 833 1,132 $936,761 $685,429 $751,815
Yr./Yr. % Change 7.9% 1.3% 3.0% 15.2% 7.9% 10.5%
Semi-Detached 72 165 237 $660,412 $447,075 $511,886
Yr./Yr. % Change -18.2% 12.2% 0.9% 1.1% 9.0% 2.2%
Townhouse 112 275 387 $491,303 $420,866 $441,251
Yr./Yr. % Change 6.7% -5.8% -2.5% 10.0% 8.5% 9.4%
Condo Apartment 492 200 692 $376,845 $299,844 $354,590
Yr./Yr. % Change 8.8% -7.0% 3.7% 3.1% 2.4% 3.6%

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 40,000 TREB Members serve consumers in the Greater Toronto Area. TREB is Canada's largest real estate board.

Contact Information

  • Media Inquiries:
    Toronto Real Estate Board
    Mary Gallagher
    Senior Manager Public Affairs
    (416) 443-8158
    maryg@trebnet.com