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GREATER TORONTO REALTORS® REPORT MID MONTH RESALE HOUSING MARKET FIGURES

TORONTO, July 16, 2014 – Toronto Real Estate Board President Paul Etherington announced that TorontoMLS home sales through the first 14 days of July 2014 were up by 11.6 per cent year-over-year to 3,891. New listings were also up compared to the same period in 2013, but by a lesser annual rate of 9.7 per cent. “There are two key takeaways from the July mid-month results. First, given the continuation of strong sales growth, it is clear that buyers are still attracted to affordable home ownership options in the GTA. Second, if new listings growth continues to outpace sales growth, we could start to see an improvement in the overall supply of homes for sale. This would be a relief for some buyers who have been hard pressed to find a home that meets their needs in this tight market,” said Mr. Etherington. The average selling price for sales reported during the first two weeks of July 2014 was $549,174. This result was up by eight per cent compared to the same period in 2013. The strongest rates of price growth were reported for semi-detached houses and townhouses in the City of Toronto. “Annual average price growth remains in the high single-digits or low double-digits for many home types across the GTA. It is possible that we could see more choice for buyers in the second half of 2014 in the form of increased new listings. A sustained increase in choice for buyers could serve to gradually ease the pace of price growth in some market segments,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.

Summary  of  TorontoMLS  Sales  and  Average  Price  July  1-­‐14,  2014  

 2014   2013  

 Sales   Average  Price   New  Listings   Sales   Average  Price   New  Listings  

City  of  Toronto  ("416")   1,403   585,999   2,822   1,264   526,931   2,579  Rest  of  GTA  ("905")   2,488   528,408   4,490   2,222   498,358   4,088  GTA   3,891   549,174   7,312   3,486   508,718   6,667  

TorontoMLS  Sales  &  Average  Price    By  Home  Type  -­‐  July  1-­‐14,  2014  

 Sales   Average  Price  

 416   905   Total   416   905   Total  

             Detached   448   1,428   1,876   $865,635   $630,595   $686,724  Yr./Yr.  %  Change   18.5%   12.4%   13.8%   8.8%   6.0%   7.2%  

Semi-­‐Detached   139   259   398   $678,749   $444,269   $526,160  Yr./Yr.  %  Change   -­‐6.7%   4.0%   0.0%   14.5%   5.9%   8.6%  

Townhouse   154   475   629   $498,907   $401,161   $425,093  Yr./Yr.  %  Change   8.5%   14.5%   12.9%   12.3%   7.3%   8.5%  

Condo  Apartment   649   267   916   $396,078   $303,497   $369,092  Yr./Yr.  %  Change   10.9%   20.3%   13.5%   10.7%   5.6%   9.1%  

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