Wednesday, March 05, 2014

GTA and Mississauga real estate market Toronto Real Estate Board for sale figures from last month

Hello from Beautiful Mississauga!
 
Below is the latest report from the Toronto Real Estate Board for sale figures from last month
 
Summary:
 
  • prices in February 2014 were up 8.6% to $553,193 compared to same month last year
  • volume of sales were up 2.1% compared to the same period last year
 
See the full report below and more figures and graphs at this page of my site:
 
http://www.mississauga4sale.com/TREBprice.htm
 
All the best!
Mark
 
 
 
GREATER TORONTO REALTORS® REPORT LATEST MONTLY RESALE HOUSING MARKET FIGURES
 
TORONTO, March 5, 2014 – Toronto Real Estate Board President Dianne Usher announced that February 2014 home sales reported by Greater Toronto Area REALTORS® were up by 2.1 per cent compared to the same period last year. Total February sales amounted to 5,731 compared to 5,613 last year.
 
“Despite the continuation of inclement weather in February, we did see a moderate uptick in sales activity last month. The sales increase was largely driven by resale condominium apartments. New listings of resale condominium apartments were up on a year-over-year basis, giving buyers ample choice. This is in contrast to the listings situation for singles, semis and townhomes, where supply continued to be constrained. Some would-be buyers had difficulty finding a home that met their needs,” said Ms. Usher.
 
“If we see renewed growth in listings for low-rise home types, the pace of sales growth will accelerate as we move through the year,” Ms. Usher continued.
 
The average selling price for February 2014 sales was up by 8.6 per cent to $553,193, compared to the average of $509,396 reported for February 2013. The MLS® Home Price Index (HPI) Composite Benchmark was up by 7.3 per cent year-over-year.
 
“While the strong price growth experienced over the last year should prompt an improvement in the supply of listings, sellers’ market conditions will continue to prevail this year. Home prices, on average, will trend upwards at a pace well-above the rate of inflation. The impact of strong price growth on affordability will be mitigated by low borrowing costs,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
 
I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
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