Residential sales in the Greater Toronto area increased 12.2% in the first half of October 2014 compared to the same period the previous year. New listings rose at a slower rate of 5.9%. The average selling price increased 8.8% to $583,719, with the strongest growth in detached and semi-detached houses and townhouses. Sellers' market conditions are expected to continue through 2014 and into 2015, keeping price growth for single-family homes in the high single digits.

1. NEWS RELEASE
GREATER TORONTO REALTORS® REPORT MID-MONTH HOUSING MARKET FIGURES
TORONTO, October 16, 2014 – Toronto Real Estate Board President Paul Etherington
announced that residential sales reported through the TorontoMLS system during the first 14
days of October were up by 12.2 per cent compared to the same period in 2013. Over the
same period, new listings entered into TorontoMLS were up by a lesser 5.9 per cent.
“We have seen a strong hand-off from the third quarter into the fourth quarter, as sales for all
major home types were up. This suggests that a great diversity of home buyers remain active in
today’s market, from first-time buyers looking for affordable home ownership options through to
high income households looking to purchase a luxury property,” said Mr. Etherington.
The average selling price for sales during the first two weeks of October was $583,719 – up by
8.8 per cent compared to the same period in 2013. Overall price growth continued to be driven
by the low-rise market segments, including detached and semi-detached houses and
townhouses.
“Strong annual rates of price growth for low-rise home types were sustained, as sales growth
continued to outpace growth in new listings. Sellers’ market conditions are expected to remain
in place for the remainder of 2014 and into 2015 as well. This means that high single-digit rates
of price growth for singles, semis and townhouses will likely remain the norm over the next few
months,” said Jason Mercer, TREB’s Director of Market Analysis.
Summary of TorontoMLS Sales and Average Price October 1 - 14, 2014
2014 2013
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 1,483 628,458 2,547 1,334 589,541 2,266
Rest of GTA ("905") 2,267 554,452 3,538 2,009 501,474 3,481
GTA 3,750 583,719 6,085 3,343 536,617 5,747
TorontoMLS Sales & Average Price By Home Type October 1 - 14, 2014
Sales Average Price
416 905 Total 416 905 Total
Detac hed 52 8 1,3 65 1,8 93 $946 ,131 $659 ,774 $739 ,646
Yr./Yr. % Change 10.7% 20.2% 17.4% 11.5% 8.8% 9.1%
Semi-Detached 149 233 382 $692,418 $447,110 $542,793
Yr./Yr. % Change 15.5% 19.5% 17.9% 8.3% 8.7% 8.1%
Townhouse 159 388 547 $508,232 $412,017 $439,985
Yr./Yr. % Change 16.1% -1.8% 2.8% 2.6% 11.8% 9.6%
Condo Apartment 629 239 868 $381,709 $301,250 $359,555
Yr./Yr. % Change 9.0% 2.1% 7.0% -2.6% -4.3% -2.7%
-30-
Greater 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 39,000 TREB Members serve
consumers in the Greater Toronto Area. TREB is Canada’s largest real estate board.
Media Inquiries: Mary Gallagher, Senior Manager Public Affairs (416) 443-8158 maryg@trebnet.com