TORONTO, February 19, 2014 -- Toronto Real estate Board President Dianne Usher announced "sales growth has reflected back so far in February after a slow beginning to the year in January. While new listings were still down contrasted to last year, the once a year rate of decline was a little bit less than experienced last month.
Greater Toronto Area REALTORS reported 2,767 sales through the TorontoMLS system in the first Fourteen days of February. This result was up by 1.3 per cent compared with 2,731 transactions reported during the same period in 2013. New lists were down by 6.1 percent on a year-over-year basis.
"Price growth well above the rate of inflation will be normal for the rest of the year. Over the same period, mortgage rates are expected to stay low, so keeping home possession cost-effective in the GTA," announced Jason Mercer, TREB's Senior Manager of Market Analysis.
The average selling price during the first fourteen days of Feb 2014 was $547,107 up 7.8 % compared with the average of $507,474 for the 1st Fourteen days of February 2013.
Greater Toronto Area REALTORS reported 2,767 sales through the TorontoMLS system in the first Fourteen days of February. This result was up by 1.3 per cent compared with 2,731 transactions reported during the same period in 2013. New lists were down by 6.1 percent on a year-over-year basis.
"Price growth well above the rate of inflation will be normal for the rest of the year. Over the same period, mortgage rates are expected to stay low, so keeping home possession cost-effective in the GTA," announced Jason Mercer, TREB's Senior Manager of Market Analysis.
The average selling price during the first fourteen days of Feb 2014 was $547,107 up 7.8 % compared with the average of $507,474 for the 1st Fourteen days of February 2013.
