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Toronto Real Estate June 17, 2014

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TORONTO, June 17, 2014 — Toronto Real Estate Board President Dianne Usher announced both sales and new lists were up significantly during the first Fourteen days of June 2014 compared against the same period in 2013. New listings were up on a year-over-year basis for most major home types in the Town of Toronto and surrounding regions. However, sales expansion outpaced growth in new listings, which suggests that there’s still a large amount of pent-up demand yet to be satisfied, so sellers’ market conditions will possibly remain in position for the rest of 2014," said Ms. Usher.

Sales reported through the TorontoMLS system during the first 14 days of June amounted to 4,938 up by 11.3 % compared with 2013. New listings were up over the same period by 7.8 % to 8,825.

The average selling price for June mid-month transactions was $582,100, which represented an increase of 8.6 percent matched against the average of $535,865 in 2013.

"Average selling prices were up across the GTA for low-rise home types like singles, semis and townhouses and also for condo flats. This is not surprising given that the amount of transactions was up matched against 2013 by a greater rate than the number of new listings, which implies that competition between consumers arguably increased," said Jason Mercer, TREB’s Senior Manager of Market Research.

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Toronto Real Estate Board June 4

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TORONTO, June 4, 2014 -Toronto Real Estate Board President Dianne Usher announced that both the number of home sales through the TorontoMLS system and the average selling price were up strongly in May compared to a year ago.

Total TorontoMLS sales for May 2014 amounted to 11,079 a new high for the month of May. This result was up by 11.4 % compared to 9,946 sales reported in May 2013.

"We are now at the top of the spring market when we often see the best number of sales and the highest average selling prices. The average selling price for these sales was $585,204, representing an 8.3 per cent year-over-year increase compared to the average price of $540,544 in May 2013. Based primarily on the May stats, buyers have been more active this spring compared to last year. Regardless of strong price expansion so far in 2014, many households remain ok with the monthly home loan payments associated with the purchase of a home, as borrowing costs have remained at or near record lows during the last few months," said Ms. Usher.

Average selling prices varied across the Larger Toronto Area, depending on geography and home type. A detached home in the City of Toronto sold, typically for $943,055. In the encircling GTA regions, the average detached price was $648,439.

"The listings situation in the GTA did not improve this past May. The result was price growth well-above the rate of inflation, particularly for singles, semis and townhomes," said Jason Mercer, TREB’s Senior Manager of Market Analysis. With listings down and sales up compared to last year, competition between purchasers increased.

"It is also critical to point out that even though the condo studio market segment remains relatively well-supplied, as new project completions have generally led on to an uptick in lists, we have seen enough purchaser interest to prompt strong apartment price growth as well," continued Mercer. President Dianne Usher announced that both the number of home sales through the TorontoMLS system and the average selling price were up strongly in May compared to a year ago.

Total TorontoMLS sales for May 2014 amounted to 11,079 a new high for the month of May. This result was up by 11.4 % compared to 9,946 sales reported in May 2013.

"We are now at the top of the spring market when we often see the best number of sales and the highest average selling prices. The average selling price for these sales was $585,204, representing an 8.3 per cent year-over-year increase compared to the average price of $540,544 in May 2013. Based primarily on the May stats, buyers have been more active this spring compared to last year. Regardless of strong price expansion so far in 2014, many households remain ok with the monthly home loan payments associated with the purchase of a home, as borrowing costs have remained at or near record lows during the last few months," said Ms. Usher.

Average selling prices varied across the Larger Toronto Area, depending on geography and home type. A detached home in the City of Toronto sold, typically for $943,055. In the encircling GTA regions, the average detached price was $648,439.

"The listings situation in the GTA did not improve this past May. The result was price growth well-above the rate of inflation, particularly for singles, semis and townhomes," said Jason Mercer, TREB’s Senior Manager of Market Analysis. With listings down and sales up compared to last year, competition between purchasers increased.

"It is also critical to point out that even though the condo studio market segment remains relatively well-supplied, as new project completions have generally led on to an uptick in lists, we have seen enough purchaser interest to prompt strong apartment price growth as well," continued Mercer.


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TORONTO, May 6,

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TORONTO, May 6, 2014 — Toronto Real estate Board President Dianne Usher commented that during April the 1st full month of spring Greater Toronto REALTORS reported a 1.8 per cent year-over-year increase in sales through the TorontoMLS system. Total April 2014 sales amounted to 9,706, compared with 9,535 transactions in April 2013.

“April marked the start of the spring market, during which time we typically see the highest monthly sales totals in a specified year. However, sales levels would have been higher , but for the absence of supply,” said Ms. Despite the obstinate shortage of lists, an important number of GTA residents managed to come to terms on a home that met their requirements. Usher.

“A number of factors underlie the constricted supply of lists. Usher. In the wider GTA context, above-trend home sales in the years leading up to the recession have meant that many households who purchased during this period simply aren’t ready to move again,” continued Ms. The MLS Home Price Index ( HPI ) Composite Benchmark was up by 7 percent year-over-year.

The average selling price for April 2014 sales was $577,898 up by 10.1 per cent compared against the April 2013 average of $524,868. The MLS HPI strips away price fluctuations springing from a change in the mixture of home types sold from one period to the subsequent.

“Price growth for the GTA in total was driven by the single-detached, semi-detached and townhouse market segments in the City of Toronto. So far this year, there’s been no relief on the listings front for these home types in numerous neighbourhoods in Toronto and surrounding regions. Until we see a marked and sustained increase in listings, we should expect to see the yearly rate of price growth above the long term norm,” said Jason Mercer, the Toronto Real estate Board’s Senior Chief of Market Analysis.

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TORONTO, April 17, 2014

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TORONTO, April 17, 2014 — Toronto Real Estate Board President Dianne Usher announced that the spring market started off on a robust note in the Greater Toronto Area, with a 10.8 percent year-over-year sales increase reported by Greater Toronto REALTORS in the first 14 days of April. Sales through the TorontoMLS system over this period amounted to 4,541 units.

"The strong increase in sales talks to the indisputable fact that home ownership remains cheap in the GTA. A household earning the average income in the GTA can easily afford a mortgage on an average priced home," said Ms. Usher. Usher.

The average selling price for April mid-month sales was $583,697, representing a yearly increase of 11 per cent. This increase was due to both tight market conditions and a change in the mixture of homes sold. At month-end, the MLS HPI baseline price will supply more understanding of price growth attributable only to the change in market conditions.

"The overall average price increase was driven by single-detached, semi-detached and townhouse sales in the City of Toronto.

"This time last year, many would-be house buyers and sellers were still on the sidelines thanks to changes in Fed mortgage lending guidelines, including those guiding principle changes that took away the government guarantee on mortgage insurance on home sales over 1,000,000 dollars. There had been a substantial increase in higher-end home sales this year compared against last," asserted Jason Mercer, TREB’s Senior Boss of Market Analysis. Nonetheless many of those households have subsequently adjusted to the lending guideline changes and have lately got a home," continued Mercer.

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March 19, 2014 TORONTO

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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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March 5/ 2014 — Toronto Real Estate Board

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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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19 February, 2014 15:34

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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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