TORONTO MARKET WATCH
Any theories of a winter slowdown for the New Year were
tossed out the window in January.
Record highs in terms of average sale price continued through last
month, with the average sale price coming in at $526, 525, a nine percent increase
over the same period in 2013, which saw average home sales in January at
$482,080.
Even with the Toronto market coming off of such a strong,
TREB expects this trend to continue into the spring season.
“The pace of price growth will remain strong in 2014.
Similar to last year, competition between buyers for singles, semis and town
homes in the City of Toronto and surrounding regions will continue to exert
upward pressure on selling prices. At the same time, mortgage rates will
remain near historic lows, so despite strong price growth, home ownership will
remain affordable for the average household in the GTA,” said Jason Mercer,
TREB’s Senior Manager of Market Analysis.
Traditionally, this period has been somewhat of a slower
time for the Real Estate market in Toronto, but with conditions continuing to
support both buyers and sellers, we could see a continued upward trend as we
begin to enter the spring/summer season.
|
Summary
of TorontoMLS Sales and Average Price January 1 - 31
|
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||||||||||||
|
|
2014
|
2013
|
|
||||||||||
|
|
Sales
|
Average
Price
|
New
Listings
|
Sales
|
Average
Price
|
New
Listings
|
|
||||||
|
City
of Toronto ("416")
|
1,551
|
$552,395
|
3,610
|
1,515
|
$509,502
|
4,189
|
|
||||||
|
Rest
of GTA ("905")
|
2,584
|
$511,001
|
5,212
|
2,714
|
$466,772
|
6,388
|
|
||||||
|
GTA
|
4,135
|
$526,528
|
8,822
|
4,229
|
$482,080
|
10,577
|
|
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TorontoMLS
Sales & Average Price By Home Type January 1 - 31, 2014
|
|||||||||||||
|
|
Sales
|
Average
Price
|
|||||||||||
|
|
416
|
905
|
Total
|
416
|
905
|
Total
|
|||||||
|
Detached
|
463
|
1,413
|
1,876
|
888,210
|
620,654
|
686,688
|
|||||||
|
Yr./Yr.
% Change
|
-4.3%
|
-6.5%
|
-6.0%
|
14.8%
|
10.5%
|
12.0%
|
|||||||
|
Semi-Detached
|
134
|
287
|
421
|
622,319
|
416,441
|
481,970
|
|||||||
|
Yr./Yr.
% Change
|
-5.0%
|
-8.9%
|
-7.7%
|
6.1%
|
6.3%
|
6.6%
|
|||||||
|
Townhouse
|
174
|
503
|
677
|
439,401
|
396,320
|
407,393
|
|||||||
|
Yr./Yr.
% Change
|
7.4%
|
0.0%
|
1.8%
|
4.6%
|
10.4%
|
9.0%
|
|||||||
|
Condo
Apartment
|
767
|
319
|
1,086
|
366,020
|
299,118
|
346,369
|
|||||||
|
Yr./Yr.
% Change
|
7.4%
|
1.6%
|
5.6%
|
7.6%
|
11.2%
|
8.7%
|
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