GREATER TORONTO REALTORS® REPORT MID-MONTH HOUSING MARKET FIGURES
TORONTO, October 16, 2014 – Toronto Real Estate Board President Paul Etherington
announced that residential sales reported through the TorontoMLS system during the first 14
days of October were up by 12.2 per cent compared to the same period in 2013. Over the
same period, new listings entered into TorontoMLS were up by a lesser 5.9 per cent.
“We have seen a strong hand-off from the third quarter into the fourth quarter, as sales for all
major home types were up. This suggests that a great diversity of home buyers remain active in
today’s market, from first-time buyers looking for affordable home ownership options through to
high income households looking to purchase a luxury property,” said Mr. Etherington.
The average selling price for sales during the first two weeks of October was $583,719 – up by
8.8 per cent compared to the same period in 2013. Overall price growth continued to be driven
by the low-rise market segments, including detached and semi-detached houses and
“Strong annual rates of price growth for low-rise home types were sustained, as sales growth
continued to outpace growth in new listings. Sellers’ market conditions are expected to remain
in place for the remainder of 2014 and into 2015 as well. This means that high single-digit rates
of price growth for singles, semis and townhouses will likely remain the norm over the next few
months,” said Jason Mercer, TREB’s Director of Market Analysis.
King City real estate, Kleinburg real estate, Vaughan real estate, and Richmond Hill real estate is in high demand. Interest Rates are still low, and there are a shortage of listings in some areas. If you were on the market previously, and didn't sell, try it now. Please take a look at the local market information statistics under the “Helpful Information” tab at the top of your screen and then click Local Market Information.
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