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March 19, 2014 TORONTO

TORONTO, March 19, 2014 — Toronto Real estate Board President Dianne Usher announced Larger Toronto Area REALTORS reported 3,459 transactions through the TorontoMLS system in the first 14 days of March 2014. This result for the TREB market area in total was virtually unvaried in comparison to 3,464 transactions completed in the same period in 2013.

"Despite the bad weather conditions experienced during the initial half of March, a sufficiency of prepared purchasers were actively searching for a home to purchase. Nevertheless many of these folk continued to be influenced by the iconic lack of single-detached, semi-detached and townhouse listings, which suggests that in some cases they couldn’t find a home on which to make an offer, or they were facing tough competition from other buyers," said Ms. Usher. The semi-detached market segment in the Town of Toronto led the way in terms of price growth during the first 14 days of March, with a year-over-year increase of more than ten %.

"Semi-detached homes represent a more affordable possession option for some homes. Because of this, some semi-detached listings have attracted many interested buyers.

"The average single-detached price was down a touch in the City of Toronto year over year due to a smaller share of luxury deals this year compared with last. This competition has served to exert robust upward pressure on the average selling price," declared Jason Mercer, TREB’s Senior Chief of Market Analysis. Tight market conditions may continue to drive powerful detached price growth in 2014," added Mercer


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Categories: Market Update

March 5/ 2014 — Toronto Real Estate Board

TORONTO, March 5, 2014 — Toronto Real Estate Board President Dianne Usher announced Feb 2014 home sales reported by Greater Toronto Area REALTORS were up by 2.1 per cent compared against the same period last year. Total Feb sales amounted to 5,731 compared with 5,613 last year.

"Despite the continuance of unpleasant weather in Feb, we did see a decent uptick in sales activity last month. New lists of resale condominium flats were up on a year-over-year basis, giving buyers ample choice. This is in opposition to the lists situation for singles, semis and townhomes, where supply continued to be restricted. Some would-be customers had difficulty finding a home that met their needs," said Ms. Usher. Usher continued.

"If we see renewed growth in listings for low-rise home types, the speed of sales growth will accelerate as we move through the year," Ms. The MLS Home Price Index ( HPI ) Composite Baseline was up by 7.3 per cent year-over-year.

The average selling price for Feb 2014 sales was up by 8.6 per cent to $553,193, compared to the average of $509,396 reported for February 2013.

"While the powerful price growth experienced during the past year should prompt an improvement in the supply of lists, sellers’ market conditions will continue to overcome this year. The impact of powerful price growth on affordability will be mitigated by low borrowing costs," said Jason Mercer, TREB’s Senior Manager of Market Analysis.


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Categories: Market Update

19 February, 2014 15:34

February 19, 2014 Leave a comment

TORONTO, February 19, 2014 — Toronto Real estate Board President Dianne Usher commented "sales growth has reflected back so far in February after a slow beginning to the year in January. While new listings were still down in comparison to last year, the yearly rate of decline was a little bit less than experienced last month. This can point to an improvement in the listings situation moving forward, which would help lessen some of the pent-up demand that currently exists in the market." .

Greater Toronto Area REALTORS reported 2,767 sales through the TorontoMLS system during the first Fourteen days of Feb. This result was up by 1.3 per cent compared with 2,731 transactions reported in the same period in 2013. New listings were down by 6.1 per cent on a year-over-year basis. Over the same period, mortgage rates are expected to stay low, so keeping home ownership cheap in the GTA," announced Jason Mercer, TREB’s Senior Manager of Market Analysis.

The average selling price in the first two weeks of Feb 2014 was $547,107 up 7.8 percent matched against the average of $507,474 for the 1st 14 days of Feb 2013.


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Categories: Market Update

TORONTO, January 6, 2014

TORONTO, January 6, 2014 — Greater Toronto Area REALTORS reported 4,078 home transactions through the TorontoMLS system in December 2013 up by almost 14 per cent compared with 3,582 sales reported in December 2012. New listings entered into the TorontoMLS system were down by almost four per cent over the same period.

Total sales for calendar year 2013, at 87,111, were up by roughly 2 percent compared with 85,496 transactions in calendar year 2012.

"After a slow beginning to the year, sales growth sped up to a brisk pace in the second 1/2 2013. Looking forward, I believe that home possession in the GTA will remain reasonable as borrowing costs stay low. Despite the bad weather in December, we finished the year with a respectable gain in transactions compared with 2012. The result might be a further rise in sales in 2014," announced Toronto Real estate Board President Dianne Usher.

"The average selling price will be up again in 2014 and by over the rate of inflation. The seller’s market conditions that drove price growth in the 2nd half 2013 will remain in place in numerous parts of the GTA.

The average selling price for December 2013 sales was $520,398 up by 8.9 % matched against the average of $477,756 in December 2012.
The average selling price for 2013 in total was $523,036, which represented an increase of 5.2 per cent compared with the calendar year 2012 average of $497,130.

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Categories: Market Update

TORONTO, January 6, 2014

TORONTO, January 6, 2014 — Greater Toronto Area REALTORS reported 4,078 residential transactions through the TorontoMLS system in December 2013 up by just about Fourteen per cent compared to 3,582 sales reported in December 2012. New listings entered into the TorontoMLS system were down by almost 4 per cent over the same period.

"After a slow beginning to the year, sales growth sped up to a brisk pace in the second half of 2013.

Total sales for calendar year 2013, at 87,111, were up by approximately 2 % compared with 85,496 transactions in calendar year 2012. Despite the unpleasant weather in December, we finished the year with a respectable gain in transactions compared to 2012. Looking forward, I believe that home ownership in the GTA will remain affordable as borrowing costs keep low. The result might be a further increase in sales in 2014," claimed Toronto Property Board President Dianne Usher.

"The average selling price will be up again in 2014 and by more than the rate of inflation. Some neighbourhoods, especially those characterized by low-rise home types like singles, semis and townhomes, may continue to have less than two months of inventory," related Jason Mercer, TREB’s Senior Manager of Market Analysis. The vendor’s market conditions that drove price growth in the second 1/2 2013 will remain in position in several parts of the GTA.

The average selling price for December 2013 sales was $520,398 up by 8.9 percent compared to the average of $477,756 in December 2012.
The average selling price for 2013 in total was $523,036, which represented an increase of 5.2 per cent compared to the calendar year 2012 average of $497,130.


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Categories: Market Update

December 17, 2013 — Greater Toronto Area

December 20, 2013 Leave a comment

December 17, 2013 — Greater Toronto Area REALTORS reported 2,483 residential sales through the TorontoMLS system in the first 14 days of December 2013. This number of transactions represented an Eighteen % increase compared with 2,104 sales reported in the same period in 2012. The number of new listings entered into the TorontoMLS system was basically unvaried from a year ago.

"The key story in the GTA home market continues to surround the availability of listings, or lack thereof. With the cost of homeownership remaining reasonable, we have seen a resurgence in buying activity in the second 1/2 2013. The result has been more customers competing for less listings. This is why we continue to experience strong price growth," said Toronto Real-estate Board President Dianne Usher.

"Inventory levels will remain low in several parts of the GTA in 2014, especially where low-rise home types are concerned, including single-detached and semi-detached homes and townhomes.

The average selling price for December mid-month transactions was up Ten per cent to $520,379, compared to $471,602 reported for the first Fourteen days of December 2012. Expect above-inflation price growth to continue next year," said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.


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Categories: Market Update

TORONTO, December 4, 2013

December 12, 2013 Leave a comment

TORONTO, December 4, 2013 — Greater Toronto Area REALTORS reported 6,391 residential sales through the TorontoMLS system in November, representing a 13.9 per cent increase over the sales result for November 2012. Over the same period, new lists on TorontoMLS were down by 4.4 % and month-end active listings were down by 12.1 percent. Sales growth was led by the single-detached market segment followed by condo flats.

"Growth in sales was strong for most home types in the Greater Toronto Area.

"With National Housing Day having just passed, housing cost is top of mind in the GTA and indeed nationally. Together, singles and apartments accounted for nearly three-quarters of total GTA transactions," recounted Toronto Real Estate Board President Dianne Usher. Usher.

The average selling price for November 2013 TorontoMLS transactions was $538,881 up by 11.3 % in comparison to the average of $484,208 reported for Nov 2012. This makes sense given the undeniable fact that competition between buyers increased last month. The MLS Home Price Index ( HPI ) Composite Benchmark was up by 5.7 percent over the same period. Transactions were up strongly year-over-year while the number of homes available for sale was down," said Jason Mercer, TREB’s Senior Manager of Market Analysis.


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