Toronto Real Estate Board



Toronto Real Estate Board

September 04, 2014 07:00 ET

Greater Toronto REALTORS® Report Monthly Resale Housing Figures

TORONTO, ONTARIO--(Marketwired - Sept. 4, 2014) - Toronto Real Estate Board President Paul Etherington reported 7,600 sales through the TorontoMLS system in August 2014. This result was up by 2.8 per cent compared to 7,391 transactions reported in August 2013. Year-to-date sales through the end of August amounted to 65,454, which represented an increase of 6.5 per cent compared to the same period in 2013.

"The last full month of summer ended on a high note. As we look toward the fall market, I expect that demand for ownership housing will remain strong. Home buyers will continue to benefit from a diversity of affordable home ownership opportunities throughout the GTA. The fact that sales were up for all major home types in August suggests that first-time buyers and existing home owners remain very active in today's marketplace," said Mr. Etherington.

The average selling price in August 2014 was $546,303 - up 8.9 per cent in comparison to the average of $501,677 reported in August 2013. The year-to-date average price through August was $562,504, which represented an increase of 8.5 per cent in comparison to the same period in 2013.

"The number of listings in August was down in comparison to last year, while the number of sales increased. This means that sellers' market conditions remained in place with a lot of competition between buyers. This is why we continued to see strong price growth last month. Looking forward, if sales growth continues to outstrip listings growth, the average selling price should continue to increase on a year-over-year basis," said Jason Mercer, TREB's Director of Market Analysis.

Summary of TorontoMLS Sales and Average Price August 1-31, 2014
2014 2013
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 2,760 564,359 4,274 2,609 516,334 4,438
Rest of GTA ("905") 4,840 536,007 7,459 4,782 493,681 7,665
GTA 7,600 546,303 11,733 7,391 501,677 12,103
TorontoMLS Sales & Average Price By Home Type August 1-31, 2014
Sales Average Price
416 905 Total 416 905 Total
Detached 828 2,723 3,551 902,428 644,120 704,350
Yr./Yr. % Change 1.7 % 0.4 % 0.7 % 14.7 % 9.3 % 10.9 %
Semi-Detached 246 539 785 627,725 445,577 502,658
Yr./Yr. % Change 7.4 % 2.5 % 4.0 % 8.8 % 8.9 % 9.3 %
Townhouse 312 930 1,242 463,798 406,748 421,080
Yr./Yr. % Change 11.8 % 1.3 % 3.8 % 11.7 % 8.5 % 9.6 %
Condo Apartment 1,344 527 1,871 370,899 307,148 352,942
Yr./Yr. % Change 6.3 % 6.9 % 6.5 % 4.1 % 5.4 % 4.4 %

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.

Contact Information

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