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GTA REALTORS® Report Monthly Resale Housing Market Figures

TORONTO, January 6, 2014 – Greater Toronto Area REALTORS® reported 4,078 residential transactions through the TorontoMLS system in December 2013 – up by almost 14 per cent compared to 3,582 sales reported in December 2012. New listings entered into the TorontoMLS system were down by almost four per cent over the same period. Total sales for calendar year 2013, at 87,111, were up by approximately two per cent compared to 85,496 transactions in calendar year 2012. “After a slow start to the year, sales growth accelerated to a brisk pace in the second half of 2013. Despite the inclement weather in December, we finished the year with a respectable gain in transactions compared to 2012. Looking forward, I believe that home ownership in the GTA will remain affordable as borrowing costs stay low. The result could be a further increase in sales in 2014,” said Toronto Real Estate Board President Dianne Usher. “The average selling price will be up again in 2014 and by more than the rate of inflation. The seller’s market conditions that drove price growth in the second half of 2013 will remain in place in many parts of the GTA. Some neighbourhoods, especially those characterized by low-rise home types like singles, semis and townhomes, will continue to have less than two months of inventory,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. The average selling price for December 2013 sales was $520,398 – up by 8.9 per cent compared to the average of $477,756 in December 2012. The average selling price for 2013 as a whole was $523,036, which represented an increase of 5.2 per cent compared to the calendar year 2012 average of $497,130. CONTINUED…

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Summary of TorontoMLS Sales and Average Price

December 1 - 31

2013 2012

Sales Average Price New Listings Sales Average Price New Listings

City of Toronto ("416") 1,574 $541,771 1,703 1,433 $494,941 1,671

Rest of GTA ("905") 2,504 $506,963 2,399 2,149 $466,297 2,596

GTA 4,078 $520,398 4,102 3,582 $477,756 4,267

TorontoMLS Sales & Average Price By Home Type

December 1 - 31, 2013

Sales Average Price

416 905 Total 416 905 Total

Detached 447 1,360 1,807 864,351 627,097 685,787

Yr./Yr. % Change -6.7% 12.6% 7.1% 18.9% 11.4% 12.5%

Semi-Detached 136 232 368 644,423 411,857 497,805

Yr./Yr. % Change 8.8% -0.9% 2.5% 15.9% 6.6% 11.8%

Townhouse 172 479 651 447,188 384,095 400,765

Yr./Yr. % Change 13.2% 15.4% 14.8% 13.4% 10.3% 11.2%

Condo Apartment 799 374 1,173 367,376 293,883 343,943

Yr./Yr. % Change 20.7% 46.1% 27.8% 7.6% 4.6% 6.0%

Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 37,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada’s largest real

estate board.

Media Inquiries: Mary Gallagher, Senior Manager Public Affairs (416) 443-8158 maryg@trebnet.com

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