September sales stay strong
Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Realtors reported 3,297 sales through the Toronto MLS system during the first 14 days of September 2014. This result represented an 8.3% increase compared to the same period in 2013. Year-to-date sales through September 14, at 68,731, were up by 6.6% compared to the same period in 2013.
“The sales result for the first two weeks of September showed strong growth for most major home types, indicating that home buyers continue to find homes that meet their needs and budgets. With a lot of buyers active in the marketplace relative to the number of homes for sale, average selling prices were up strongly for most low-rise and high-rise home ownership options,” said Mr. Etherington.
The average selling price for September mid-month sales was $555,890, which represented an increase of 8.1% compared to the average price for the first two weeks of September 2013. Average price growth was strongest for single-detached and semi-detached homes.
The average year-to-date selling price was up by 8.5% year-over-year to $562,244.
“Average prices in the low-rise market segments, including singles, semis and towns, continued to experience the impact of strong competition between buyers. It is also clear that while the condo apartment market segment remains comparatively better supplied, there are enough buyers relative to available condo listings to prompt very strong average price growth for this type of ownership housing as well,” said Jason Mercer, TREB’s Director of Market Analysis.
Summary of Toronto MLS Sales and Average Price September 1 – 14
City of Toronto (“416”)
2014 Sales: 1,203 | Average Price: $594,033 | New Listings: 3,157
2013 Sales: 1,110 | Average Price: $531,133 | New Listings: 2,996
Rest of GTA (“905”)
2014 Sales: 2,094 | Average Price: $533,977 | New Listings: 4,380
2013 Sales: 1,934 | Average Price: $504,357 | New Listings: 4,507
All of the GTA
2014 Sales: 3,297 | Average Price: $555,890 | New Listings: 7,537
2013 Sales: 3,044 | Average Price: $514,121 | New Listings: 7,503
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Contact Laurin Jeffrey for more information – 416-388-1960
Laurin Jeffrey is a Toronto real estate agent with Century 21 Regal Realty.
He did not write these articles, he just reproduces them here for people who
are interested in Toronto real estate. He does not work for any builders.
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