GTA REALTORS(R) Release Monthly Resale Housing Figures

TORONTO, ONTARIO--(Marketwired - Aug. 6, 2015) - Toronto Real Estate Board President Mark McLean announced record home sales for the month of July. Greater Toronto Area REALTORS® reported 9,880 sales through TREB's MLS® System, representing an eight per cent increase compared to July 2014. The number of transactions were up for all major home types, including a double-digit year-over-year increase in condominium apartment sales.

"As we move towards a new record for home sales this year, it is important to point out that home ownership demand has been driven not only by low borrowing costs, but also by the fact that the GTA economy has been performing quite well, with the unemployment rate lower compared to last year. Home buyers remain confident in the long-term benefits of owning a home," said Mr. McLean.

The MLS® Home Price Index (HPI) Composite Benchmark, which accounts for benchmark home prices in communities throughout the TREB market area, was up by 9.4 per cent year-over-year in July 2015. Over the same period, the average selling price was up by a slightly greater amount, growing by 10.6 per cent annually to $609,236.

Detached homes continued to lead the way in terms of price increases, with annual growth in the average selling price outstripping growth in the MLS® HPI detached benchmark. This suggests that there continued to be a greater share of high-end homes sold this year compared to last.

"With the level of inventory in the GTA trending below two months, many listings continued to generate a lot of interest from buyers. Not surprisingly, this supported further price increases well-above the rate of inflation. Assuming similar interest rate and economic environments over the next five months, strong price growth will remain the norm for the rest of 2015," said Jason Mercer, TREB's Director of Market Analysis.

Summary of TorontoMLS Sales and Average Price July 1 - 31, 2015
	2015			2014
	Sales	Average Price	New Listings	Sales	Average Price	New Listings
City of Toronto ("416")	3,480	618,202	5,681	3,300	576,469	5,756
Rest of GTA ("905")	6,400	604,361	9,018	5,852	536,052	9,325
GTA	9,880	609,236	14,699	9,152	550,625	15,081

TorontoMLS Sales & Average Price By Home Type July 1 - 31, 2015
		Sales						Average Price
		416		905		Total		416		905		Total
Detached		1,031		3,696		4,727		996,770		729,261		787,607
	Yr./Yr. % Change	-0.7	%	9.5	%	7.1	%	13.3	%	14.2	%	13.2	%
Semi-Detached		324		668		992		716,160		499,821		570,480
	Yr./Yr. % Change	-2.4	%	10.6	%	6.0	%	12.7	%	10.4	%	10.2	%
Townhouse		369		1,171		1,540		536,212		448,785		469,733
	Yr./Yr. % Change	-1.9	%	5.2	%	3.4	%	8.3	%	11.5	%	10.3	%
Condo Apartment		1,730		699		2,429		394,504		317,564		372,363
	Yr./Yr. % Change	13.7	%	16.3	%	14.4	%	4.0	%	5.0	%	4.1	%

July 2015 Year-Over-Year Per Cent Change in the MLS® HPI
	Composite (All Types)		Single- Family Detached		Single- Family Attached		Townhouse		Apartment
TREB Total	9.4	%	10.9	%	10.6	%	9.5	%	3.9	%
Halton Region	9.0	%	9.2	%	9.2	%	7.8	%	-
Peel Region	9.0	%	9.7	%	10.1	%	9.2	%	3.2	%
City of Toronto	6.9	%	8.8	%	7.9	%	8.7	%	3.8	%
York Region	13.5	%	14.4	%	14.6	%	11.9	%	4.3	%
Durham Region	13.2	%	13.3	%	14.5	%	10.8	%	8.0	%
Orangeville	7.5	%	7.6	%	6.7	%	-		-
South Simcoe County(1)	11.5	%	11.0	%	11.8	%	-		-

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.

(1)	South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth.