The Toronto Real Estate Board reported 3,297 sales through the TorontoMLS system during the first 14 days of September 2014. This result represented an 8.3% increase compared to the same period in 2013. Year-to-date sales through September 14, at 68,731, were up by 6.6% compared to the same period in 2013.
“The sales result for the first two weeks of September showed strong growth for most major home types, indicating that home buyers continue to find homes that meet their needs and budgets. With a lot of buyers active in the marketplace relative to the number of homes for sale, average selling prices were up strongly for most low-rise and high-rise home ownership options,” said TREB President Mr. Etherington.
The average selling price for September mid-month sales was $555,890, which represented an increase of 8.1% compared to the average price for the first two weeks of September 2013. Average price growth was strongest for single-detached and semi-detached homes.
The average year-to-date selling price was up by 8.5% year-over-year to $562,244.
“Average prices in the low-rise market segments, including singles, semis and towns, continued to experience the impact of strong competition between buyers. It is also clear that while the condo apartment market segment remains comparatively better supplied, there are enough buyers relative to available condo listings to prompt very strong average price growth for this type of ownership housing as well,” said Jason Mercer, TREB’s Director of Market Analysis.
“Toronto’s Condo Authority”