Toronto Real Estate Board

Toronto Real Estate Board

June 16, 2015 09:00 ET

GTA REALTORS® Release Mid-Month Resale Housing Figures

TORONTO, ONTARIO--(Marketwired - June 16, 2015) - Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 5,661 home sales through TREB's MLS® System during the first two weeks of June 2015. This result represented a 15.7 per cent increase compared to the same period in 2014.

"We continued to see a record pace of home sales in the first half of June, as home buyers remained upbeat on ownership housing as a quality long-term investment. Growth in home sales was widespread, with year-over-year increases for all major home types, suggesting that households from many different age groups and walks of life are active in today's market," said Mr. Etherington.

The average selling price for transactions reported during the first 14 days of June was $650,732 - up 12 per cent in comparison to the first 14 days of June 2014. Strong price growth was noted for low-rise home types and condominium apartments.

"The familiar story of strong demand running up against a constrained supply of homes for sale continued to play out in the first half of June. Modest growth in new listings was not enough to offset the pent-up demand that has built during the first half of 2015. As a result, strong competition between buyers continued to result in strong price growth," said Jason Mercer, TREB's Director of Market Analysis.

Summary of TorontoMLS Sales and Average Price - June 1-14, 2015
2015 2014
Sales Average
Price
New
Listings
Sales Average
Price
New
Listings
City of Toronto ("416") 2,087 697,648 3,596 1,819 645,582 3,474
Rest of GTA ("905") 3,574 623,336 5,304 3,074 542,615 5,279
GTA 5,661 650,732 8,900 4,893 580,894 8,753
TorontoMLS Sales & Average Price By Home Type - June 1-14, 2015
Sales Average Price
416 905 Total 416 905 Total
Detached 716 2,159 2,875 $ 1,070,472 $ 745,288 $ 826,273
Yr./Yr. % Change 7.0 % 19.2 % 15.9 % 13.0 % 15.1 % 13.4 %
Semi-Detached 220 342 562 $ 744,569 $ 487,285 $ 588,001
Yr./Yr. % Change 5.8 % 1.5 % 3.1 % 5.8 % 7.9 % 7.3 %
Townhouse 251 634 885 $ 535,312 $ 460,785 $ 481,922
Yr./Yr. % Change 15.7 % 15.9 % 15.8 % 10.0 % 16.7 % 14.5 %
Condo Apartment 878 355 1,233 $ 433,968 $ 317,756 $ 400,509
Yr./Yr. % Change 23.5 % 18.7 % 22.1 % 8.9 % 5.5 % 8.3 %

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 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