Toronto Real Estate Board

Toronto Real Estate Board

March 17, 2015 09:00 ET

GTA Realtors® Release Mid-Month Resale Housing Figures

TORONTO, ONTARIO--(Marketwired - March 17, 2015) - Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 3,838 sales through the TorontoMLS system during the first two weeks of March 2015. This result represented an 11.8 per cent increase compared to the same period in 2014. New listings were also up over the same period, but by a lesser annual rate of 8.4 per cent.

"Strong year-over-year growth in home sales continued during the first half of March for most home types in the GTA, both in the City of Toronto and the surrounding regions. This suggests that households continue to view the purchase of a home as a quality long-term investment. But for a lack of low-rise listings in some neighbourhoods, it is quite possible that the number of sales could have been higher," said Mr. Etherington.

The average selling price for transactions reported during the first two weeks of March was $620,106 - up by 10.6 per cent compared to the same period in 2014. Price growth was driven by low-rise home types, including detached and semi-detached houses and townhouses.

"The fact that sales growth has continued to outpace listings growth suggests that there is pent-up demand in the marketplace, especially for singles, semis and townhouses. This is why we have experienced a sustained period of strong price growth for low-rise home types. So far in March, we have also experienced a greater share of high-end detached home sales compared to the same time frame in 2014. This has also influenced growth in the average selling price," said Jason Mercer, TREB's Director of Market Analysis.

Summary of TorontoMLS Sales and Average Price March 1-14
2015 2014
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 1,429 688,065 2,706 1,283 610,260 2,306
Rest of GTA ("905") 2,409 579,793 4,135 2,149 530,803 4,006
GTA 3,838 620,106 6,841 3,432 560,507 6,312

TorontoMLS Sales & Average Price By Home Type March 1-14
Sales Average Price
416 905 Total 416 905 Total
Detached 497 1,383 1,880 $1,099,239 $701,686 $806,784
Yr./Yr. % Change 13.2% 12.3% 12.5% 21.3% 10.2% 14.0%
Semi-Detached 116 237 353 $782,940 $480,610 $579,959
Yr./Yr. % Change -7.2% 6.8% 1.7% 13.3% 10.3% 9.9%
Townhouse 156 465 621 $536,446 $437,858 $462,624
Yr./Yr. % Change 21.9% 9.7% 12.5% 11.6% 7.5% 9.0%
Condo Apartment 655 271 926 $396,805 $301,508 $368,915
Yr./Yr. % Change 12.9% 19.4% 14.7% -0.8% 4.4% 0.0%

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 40,000 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