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MARKET WATCH


Sales & Price Growth Continue in December and Year-Over-Year Basis

 

TORONTO, January 7, 2015 - Toronto Real Estate Board President Paul Etherington

announced that Greater Toronto REALTORS® reported 92,867 residential sales

through the TorontoMLS system in 2014, including 4,446 in December. The calendar

year 2014 sales result represented a 6.7 per cent increase over the 2013 sales figure of

87,049 and was just short of the record set in 2007.

 

"TREB's 2014 sales figures are a testament to the importance Greater Toronto Area 

households continue to place on home ownership. GTA households realize that home 

purchases have been a quality long-term investment. While home prices certainly 

increased substantially in 2014, the purchase of an average priced home remained 

affordable, in terms of the average household's ability to comfortably cover their monthly 

mortgage payments," said Mr. Etherington. 

 

The average selling price continued to grow on a year-over-year basis in calendar year 

2014, with an 8.4 per cent increase over calendar year 2013 to $566,726. This included 

a seven per cent increase in the December 2014 average selling price to $556,602. 

Throughout 2014, annual increases in the average selling price and the MLS® HPI 

Composite Benchmark were consistently reported on a monthly basis for most market 

segments, from detached homes through to condominium apartments. 

 

"The strong price growth we experienced in 2014 can be explained with two words: 

listings shortage. The constrained supply of listings was especially evident for low-rise 

home types like singles, semis and town houses. The number of households looking to 

purchase these home types increased, while the number of homes from which they 

could choose decreased. This situation resulted in more competition between buyers 

and more aggressive offers," 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.

 

Call me for an accurate evaluation of your property.  I will provide a top notch marketing plan and tell you about my satisfaction guarantee. 

It’s about people, is not just a slogan - it’s who I am. I know what you’re thinking and feeling because I’ve been through it a number of times. I’m here to help you feel more comfortable, more relaxed and ultimately feel more like “home” until you re-establish your home. I’ll get to know you, your lifestyle and what is required to make your transition a smooth one.

If you are a buyer, it would be a good idea to hire Realtors, To help navigate this difficult market.  I will discuss a plan to find the right home for you, be it a house, condominium, investment property, or a townhouse. I'm happy to announce that I've been awarded the Director's Platinum Award for 2014.  This puts me in the top 5% in Canada for Royal LePage. 

 

 

 


 

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Lucy Brookhouser BROKER, ABR

Royal LePage Your Community Realty Brokerage

Independently owned and operated

9411 Jane Street, Vaughan ON, L6A 4J3

Phone: 905.832.6656

Fax: 905.832.6918

Mobile: 416.708.5597

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