- Record home sales were reported in the Greater Toronto Area (GTA) in April 2015, with 11,303 sales representing a 17% increase from April 2014.
- The average home price in the GTA rose 10% year-over-year to $635,932 in April 2015. Price growth was strongest for low-rise homes but condominium prices also increased above the rate of inflation.
- Demand continued to outpace new listings, and annual home price growth is expected to remain strong until listings grow at a faster pace than sales.
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Market Watch APRIL 2015
1. Record Sales in April 2015
TORONTO, May 5, 2015 – Toronto Real Estate Board President Paul Etherington announced that
Greater Toronto Area REALTORS® reported 11,303 sales in April 2015. This was the highest sales
result on record for the month of April and represented a 17 per cent increase in comparison to
April 2014. While sales increased strongly on a year-over-year basis, new listings were up over
the same period by a more moderate five per cent.
“The record April result clearly points to the fact that a growing number of GTA households view
ownership housing as a high quality, long-term investment. This is evidenced by the strong sales
growth we have experienced in Toronto and surrounding regions for all major home types. First-
time buyers and existing homeowners remain very active in today’s market,” said Mr.
Etherington.
The overall average selling price, which accounts for all homes reported sold by GTA REALTORS®
in April 2015, was up by 10 per cent year-over-year to $635,932. The MLS® Home Price Index
(HPI) Composite Benchmark, which estimates the price of a benchmark home with the same
attributes from one period to the next, was up by 8.4 per cent over the same period. The fact
that average price growth outpaced growth for the MLS® HPI Composite Benchmark, suggests
that a greater share of higher-end homes changed hands this year compared to last.
Irrespective of the indicator used, price growth in the GTA was strongest for low-rise home types.
However, the better supplied condominium apartment segment also remained healthy with
price growth above the rate of inflation.
“Demand for ownership housing was very high relative to the number of homes available for sale
in April. This situation is not expected to change markedly as we move through the remainder of
2015. Until we experience a sustained period in which listings grow at a faster pace than sales,
annual rates of home price growth will remain strong,” said Jason Mercer, TREB’s Director of
Market Analysis.
11,303
9,660
April 2015 April 2014
$635,932
$578,354
April 2015 April 2014
For All TREB Member Inquiries:
(416) 443-8152
For All Media/Public Inquiries:
(416) 443-8158April 2015
Real GDP Growthi
Q4 2014 t 2.4%
Toronto Employment Growthii
March 2015 u -0.3%
Toronto Unemployment Rate
March 2015 u 7.2%
Inflation (Yr./Yr. CPI Growth)ii
March 2015 t 1.2%
Bank of Canada Overnight Rateiii
April 2015 q 0.75%
Prime Rate
iv
April 2015 q 2.85%
Mortgage Rates (Apr. 2015)
iv
Chartered Bank Fixed Rates
1 Year q 2.89%
3 Year q 3.39%
5 Year u 4.64%
Sources and Notes:
Economic Indicators
i
Statistics Canada, Quarter-over-quarter
growth, annualized
ii
Statistics Canada, Year-over-year growth
for the most recently reported month
iii
Bank of Canada, Rate from most recent
Bank of Canada announcement
iv
Bank of Canada, Rates for most recently
completed month
Sales & Average Price By Major Home Type1,7
416 905 Total 416 905 Total
Detached 1,468 4,214 5,682 $1,056,114 $729,961 $814,225
Yr./Yr. % Change 13.8% 18.2% 17.0% 9.2% 13.1% 11.4%
Semi-Detached 415 750 1,165 $727,875 $489,796 $574,605
Yr./Yr. % Change 14.3% 15.0% 14.8% 3.5% 10.5% 7.2%
Townhouse 451 1,342 1,793 $551,231 $448,236 $474,143
Yr./Yr. % Change 28.9% 17.9% 20.5% 10.3% 9.5% 10.1%
Condo Apartment 1,706 745 2,451 $407,612 $318,471 $380,517
Yr./Yr. % Change 13.9% 21.5% 16.1% 5.8% 7.4% 5.8%
April 2015
Sales Average Price
2015 2014 % Chg.
Sales 11,303 9,660 17.0%
New Listings 18,117 17,248 5.0%
Active Listings 17,182 19,118 -10.1%
Average Price $635,932 $578,354 10.0%
Average DOM 18 20 -10.0%
Year-Over-Year Summary
1,7
TorontoMLS Sales Activity1,7
TorontoMLS Average Price1,7
2. Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total
$0 to $99,999 0 0 1 1 4 0 0 0 0 6
$100,000 to $199,999 18 1 2 38 138 0 4 0 1 202
$200,000 to $299,999 115 46 41 153 760 11 2 0 3 1,131
$300,000 to $399,999 417 101 160 266 791 54 2 5 1 1,797
$400,000 to $499,999 674 340 256 226 375 21 1 4 0 1,897
$500,000 to $599,999 855 272 191 96 185 18 3 0 1 1,621
$600,000 to $699,999 872 181 146 34 87 33 1 1 0 1,355
$700,000 to $799,999 671 101 81 28 41 28 0 1 0 951
$800,000 to $899,999 522 53 24 5 17 13 0 0 0 634
$900,000 to $999,999 365 29 15 11 11 3 0 0 0 434
$1,000,000 to $1,249,999 473 26 9 3 17 1 0 0 0 529
$1,250,000 to $1,499,999 288 7 2 0 13 0 0 0 0 310
$1,500,000 to $1,749,999 145 1 1 1 4 0 0 0 0 152
$1,750,000 to $1,999,999 84 3 0 0 2 0 0 0 0 89
$2,000,000 + 183 4 1 1 6 0 0 0 0 195
Total Sales 5,682 1,165 930 863 2,451 182 13 11 6 11,303
Share of Total Sales 50.3% 10.3% 8.2% 7.6% 21.7% 1.6% 0.1% 0.1% 0.1% -
Average Price $814,225 $574,605 $531,602 $412,222 $380,517 $538,782 $355,654 $439,545 $298,467 $635,932
Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total
$0 to $99,999 4 0 1 5 31 0 1 0 1 43
$100,000 to $199,999 68 6 3 122 547 0 12 0 2 760
$200,000 to $299,999 379 135 127 449 2,345 30 3 1 9 3,478
$300,000 to $399,999 1,211 352 494 726 2,361 133 3 8 7 5,295
$400,000 to $499,999 2,002 875 738 553 1,078 61 3 7 0 5,317
$500,000 to $599,999 2,351 700 493 210 485 63 9 2 1 4,314
$600,000 to $699,999 2,272 412 347 80 217 80 3 4 0 3,415
$700,000 to $799,999 1,724 222 186 55 123 68 0 2 0 2,380
$800,000 to $899,999 1,362 135 55 19 44 25 1 0 0 1,641
$900,000 to $999,999 889 60 35 16 36 4 0 1 0 1,041
$1,000,000 to $1,249,999 1,153 57 26 12 53 1 0 0 0 1,302
$1,250,000 to $1,499,999 711 23 9 2 29 0 0 1 0 775
$1,500,000 to $1,749,999 354 6 1 2 13 0 0 0 0 376
$1,750,000 to $1,999,999 231 7 1 0 5 0 1 0 0 245
$2,000,000 + 440 7 5 1 19 0 0 0 0 472
Total Sales 15,151 2,997 2,521 2,252 7,386 465 36 26 20 30,854
Share of Total Sales 49.1% 9.7% 8.2% 7.3% 23.9% 1.5% 0.1% 0.1% 0.1% -
Average Price $787,317 $558,834 $520,444 $397,310 $369,508 $526,836 $406,000 $517,423 $273,420 $609,903
SALES BY PRICE RANGE AND HOUSE TYPE1,7
APRIL 2015
SALES BY PRICE RANGE AND HOUSE TYPE1,7
YEAR-TO-DATE, 2015
Market Watch, April 2015 2
Toronto Real Estate Board
27. July 2010Page 3
Toronto Real Estate Board
Market Watch, April 2015 27
YEAR SALES AVERAGE PRICE
2004 83,501 $315,231
2005 84,145 $335,907
2006 83,084 $351,941
2007 93,193 $376,236
2008 74,552 $379,347
2009 87,308 $395,460
2010 85,545 $431,276
2011 89,096 $465,014
2012 85,496 $497,130
2013 87,049 $522,958
2014 92,788 $566,627
January 4,103 $526,965
February 5,696 $552,859
March 8,052 $557,982
April 9,660 $578,354
May 11,013 $584,946
June 10,133 $569,174
July 9,152 $550,685
August 7,567 $546,511
September 8,002 $574,447
October 8,513 $587,906
November 6,476 $577,502
December 4,421 $556,209
Annual 92,788 $566,627
January 4,323 $553,049
February 6,311 $596,632
March 8,917 $613,865
April 11,303 $635,932
May - -
June - -
July - -
August - -
September - -
October - -
November - -
December - -
Year-to-Date 30,854 $609,903
HISTORIC ANNUAL STATISTICS1,6,7
2015 MONTHLY STATISTICS1,7
2014 MONTHLY STATISTICS1,7
*For historic annual sales and average price data over a longer time frame go to:
http://www.torontorealestateboard.com/market_news/market_watch/histori
c_stats/pdf/TREB_historic_statistics.pdf
NOTES
8
SNLR = Sales-to-New Listings Ratio. Calculated using a 12-month moving average (sales/new listings).
9
Mos. Inv. = Months of Inventory. Calculated using a 12-month moving average (active listings/sales).
7
Past monthly and year-to-date figures are revised on a monthly basis.
1
Sales, dollar volume, average sale prices and median sale prices are based on firm transactions entered into the TorontoMLS® system between the first
and last day of the month/period being reported.
2
New listings entered into the TorontoMLS® system between the first and last day of the month/period being reported.
3
Active listings at the end of the last day of the month/period being reported.
4
Ratio of the average selling price to the average listing price for firm transactions entered into the TorontoMLS® system between the first and last day
of the month/period being reported.
5
Average number of days on the market for firm transactions entered into the TorontoMLS® system between the first and last day of the month/period
being reported.
6
Due to past changes to TREB's service area, caution should be exercised when making historical comparisons.
Copyright® 2015 Toronto Real Estate Board