Annual Growth in Home Sales Continued in August
September 4, 2014 — Toronto Real Estate Board President Paul Etherington reported 7,600 sales through the TorontoMLS system in August 2014. This result was up by 2.8 per cent compared to 7,391 transactions reported in August 2013. Year-to-date sales through the end of August amounted to 65,454, which represented an increase of 6.5 per cent compared to the same period in 2013.
“The last full month of summer ended on a high note. As we look toward the fall market, I expect that demand for ownership housing will remain strong. Home buyers will continue to benefit from a diversity of affordable home ownership opportunities throughout the GTA. The fact that sales were up for all major home types in August suggests that first-time buyers and existing home owners remain very active in today’s marketplace,” said Mr. Etherington.
The average selling price in August 2014 was $546,303 – up 8.9 per cent in comparison to the average of $501,677 reported in August 2013. The year-to-date average price through August was $562,504, which represented an increase of 8.5 per cent in comparison to the same period in 2013.
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