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 39,000 TREB Members serve consumers in the Greater Toronto Area. TREB is Canada’s largest real estate board.

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GREATER TORONTO REALTORS® REPORT MID MONTH RESALE HOUSING MARKET FIGURES

TORONTO, June 17, 2014 – Toronto Real Estate Board President Dianne Usher announced that both sales and new listings were up substantially during the first 14 days of June 2014 compared to the same period in 2013. “If the first two weeks of June are any indication, we may be seeing a turnaround in the supply of homes for sale in the Greater Toronto Area. New listings were up on a year-over-year basis for most major home types in the City of Toronto and surrounding regions. However, sales growth outpaced growth in new listings, which suggests that there is still a lot of pent-up demand yet to be satisfied, so sellers’ market conditions will likely remain in place for the remainder of 2014,” said Ms. Usher. Sales reported through the TorontoMLS system during the first two weeks of June amounted to 4,938 – up by 11.3 per cent in comparison to 2013. New listings were up over the same period by 7.8 per cent to 8,825. The average selling price for June mid-month transactions was $582,100, which represented an increase of 8.6 per cent compared to the average of $535,865 in 2013. “Average selling prices were up across the GTA for low-rise home types like singles, semis and townhouses as well as for condominium apartments. This is no surprise given that the number of transactions was up compared to 2013 by a greater rate than the number of new listings, which suggests that competition between buyers arguably increased,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

Summary  of  TorontoMLS  Sales  and  Average  Price  June  1  -­‐  14  

 2014   2013  

 Sales   Average  Price   New  Listings   Sales   Average  Price   New  Listings  

City  of  Toronto  ("416")   1,835   $644,115     3,492   1,574   $589,450     3,116  Rest  of  GTA  ("905")   3,103   $545,427     5,333   2,863   $506,405     5,071  GTA   4,938   $582,100     8,825   4,437   $535,865     8,187  

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

 Sales   Average  Price  

 416   905   Total   416   905   Total  

             Detached   679   1,828   2,507   941,813   652,146   730,600  Yr./Yr.  %  Change   23.7%   9.2%   12.8%   7.5%   7.9%   8.8%  

Semi-­‐Detached   209   344   553   702,782   452,261   546,943  Yr./Yr.  %  Change   12.4%   13.2%   12.9%   10.3%   9.8%   10.0%  

Townhouse   219   549   768   485,394   394,993   420,771  Yr./Yr.  %  Change   23.7%   3.2%   8.3%   7.2%   4.8%   6.3%  

Condo  Apartment   714   302   1,016   397,942   300,870   369,088  Yr./Yr.  %  Change   10.9%   7.5%   9.8%   5.7%   5.6%   5.9%  

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

NEWS RELEASE