TORONTO, February 4, 2015 - Toronto Real Estate Board President Paul
Etherington announced a strong start to 2015, with robust year-over-year sales
and average price growth in January. Greater Toronto Area REALTORS® reported
4,355 home sales through the TorontoMLS system during the first month of the
year. This result represented a 6.1 per cent increase over January 2014. During
the same period, new listings were up by 9.5 per cent. "The January
results represented good news on multiple fronts. First, strong sales growth
suggests home buyers continue to see housing as a quality long-term investment,
despite the recent period of economic uncertainty. Second, the fact that new
listings grew at a faster pace than sales suggests that it has become easier
for some people to find a home that meets their needs," said Mr.
Etherington. The average selling price for January 2015 home sales was up by
4.9 per cent year-over-year to $552,575. The MLS® Home Price Index (HPI)
Composite benchmark was up by 7.5 percent compared to January 2014. "Home
price growth is forecast to continue in 2015. Lower borrowing costs will
largely mitigate price growth this year, which means affordability will remain
in check. The strongest rates of price growth will be experienced for low-rise
home types, including singles, semis and town houses. However, robust enduser demand
for condo apartments will result in above-inflation price growth in the
high-rise segment as well," said Jason Mercer, TREB's Director of Market
Analysis
April home sales followed the regular seasonal trend with an increase relative to March. However, total residential transactions in the Greater Toronto Area (GTA) were down compared to the same time last year, as potential buyers continue to wait for lower borrowing costs and for certainty about the trajectory of the economy. “Following the recent federal election, many households across the GTA are closely monitoring the evolution of our trade relationship with the United States. If this relationship moves in a positive direction, we could see an uptick in transactions driven by improved consumer confidence and a market that is both more affordable and better supplied,” said TRREB President Elechia Barry-Sproule. GTA REALTORS® reported 5,601 home sales through TRREB’s MLS® System in April 2025 – down by 23.3 per cent compared to April 2024. New listings in the MLS® System amounted to 18,836– up by 8.1 per cent year-over-year. On a seasonally adjusted basis, April home sales edged up m...
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