GTA and Toronto Real Estate Statistics

GTA and Toronto Real Estate Statistics – Mid-Month May 2014

May 16, 2014 - Residential resale sales figures were released today for the first half of May reflecting a continuation of the "Sellers' Market" characterized by rising sales, rising prices, and relatively tight inventory levels.

The Toronto Real Estate Board reported 1,930 sales in Metro Toronto, up 16.7%, and 3,255 sales in the rest of the Greater Toronto Area, up 21.4% from the same period one year earlier.

Average selling price was also strong, up 11.5% to $663,787 in the "416" and up 7.3% to $546,460 in the surrounding area. Combining both areas, the average price stood at $590,132, up 8.9% year-over-year.

Price growth was strongest for Detached homes in the City of Toronto, up 13% on strong demand combined with limited inventory. The number of Detached sales jumped 20.2% in the 416 and 24.3% in the rest of the GTA. Bungalows in both areas continue to be in particularly strong demand.

The number of "New Listings" fell about 1.6% compared to a year earlier, though TREB doesn't include the "Total Active Listings" figure in the mid-month stats report.

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