Mid Month February 2014 - Market Report courtesy of TREB
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Want to know what is happening in the market so far mid month in February. Check out the mid month market report, just released.
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Mid Month February 2014 - Market Report courtesy of TREB
- 1. NEWS RELEASE GREATER TORONTO REALTORS® REPORT LATEST MID-MONTH RESALE MARKET FIGURES TORONTO, February 19, 2014 – Toronto Real Estate Board President Dianne Usher announced that “sales growth has rebounded so far in February after a slow start to the year in January. While new listings were still down in comparison to last year, the annual rate of decline was less than experienced last month. This may point to an improvement in the listings situation moving forward, which would help alleviate some of the pent-up demand that currently exists in the marketplace." Greater Toronto Area REALTORS® reported 2,767 sales through the TorontoMLS system during the first 14 days of February. This result was up by 1.3 per cent in comparison to 2,731 transactions reported during the same period in 2013. New listings were down by 6.1 per cent on a year-over-year basis. "Price growth well above the rate of inflation will be the norm for the remainder of the year. Over the same period, mortgage rates are expected to remain low, thereby keeping home ownership affordable in the GTA," said Jason Mercer, TREB's Senior Manager of Market Analysis. The average selling price during the first two weeks of February 2014 was $547,107 – up 7.8 per cent compared to the average of $507,474 for the first 14 days of February 2013. Summary of TorontoMLS Sales and Average Price January 1 - 14, 2014 2014 2013 Sales Average Price New Listings Sales Average Price New Listings City of Toronto ("416") 1,038 594,129 2,084 1,060 554,294 2,202 Rest of GTA ("905") 1,729 518,877 3,111 1,671 477,774 3,331 GTA 2,767 547,107 5,195 2,731 507,474 5,533 TorontoMLS Sales & Average Price By Home Type January 1 - 14, 2014 Sales Average Price 416 Yr./Yr. % Change Semi-Detached Yr./Yr. % Change Townhouse Yr./Yr. % Change Condo Apartment Yr./Yr. % Change Total 416 905 Total 325 Detached 905 978 1,303 $942,066 $634,146 $710,949 -12.4% 4.7% -0.2% 15.2% 10.2% 10.4% 84 197 281 $685,111 $419,972 $499,230 -23.6% 15.2% 0.0% 9.6% 4.7% 2.1% 96 300 396 $568,894 $384,468 $429,177 -15.0% -6.8% -9.0% 27.4% 2.2% 8.8% 521 219 740 $373,576 $287,433 $348,082 15.8% 5.8% 12.6% 5.0% 4.2% 5.3% Media Inquiries: Mary Gallagher, Senior Manager Public Affairs (416) 443-8158 maryg@trebnet.com youtube.com/TREBChannel facebook.com/TorontoRealEstateBoard -30Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 37,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada’s largest real estate board. twitter.com/TREBhome