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consumers in the Greater Toronto Area. TREB is Canada’s largest real estate board. Media Inquiries: Mary Gallagher, Senior Manager Public Affairs (416) 443-8158 maryg@trebnet.com

GREATER TORONTO REALTORS® REPORT MID-MONTH HOUSING MARKET FIGURES

TORONTO, October 16, 2014 – Toronto Real Estate Board President Paul Etherington announced that residential sales reported through the TorontoMLS system during the first 14 days of October were up by 12.2 per cent compared to the same period in 2013. Over the same period, new listings entered into TorontoMLS were up by a lesser 5.9 per cent. “We have seen a strong hand-off from the third quarter into the fourth quarter, as sales for all major home types were up. This suggests that a great diversity of home buyers remain active in today’s market, from first-time buyers looking for affordable home ownership options through to high income households looking to purchase a luxury property,” said Mr. Etherington. The average selling price for sales during the first two weeks of October was $583,719 – up by 8.8 per cent compared to the same period in 2013. Overall price growth continued to be driven by the low-rise market segments, including detached and semi-detached houses and townhouses. “Strong annual rates of price growth for low-rise home types were sustained, as sales growth continued to outpace growth in new listings. Sellers’ market conditions are expected to remain in place for the remainder of 2014 and into 2015 as well. This means that high single-digit rates of price growth for singles, semis and townhouses will likely remain the norm over the next few months,” said Jason Mercer, TREB’s Director of Market Analysis.

Summary of TorontoMLS Sales and Average Price October 1 - 14, 2014

2014 2013

Sales Average Price New Listings Sales Average Price New Listings

City of Toronto ("416") 1,483 628,458 2,547 1,334 589,541 2,266 Rest of GTA ("905") 2,267 554,452 3,538 2,009 501,474 3,481

GTA 3,750 583,719 6,085 3,343 536,617 5,747

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

Sales Average Price

416 905 Total 416 905 Total

Detached 528 1,365 1,893 $946,131 $659,774 $739,646 Yr./Yr. % Change 10.7% 20.2% 17.4% 11.5% 8.8% 9.1% Semi-Detached 149 233 382 $692,418 $447,110 $542,793

Yr./Yr. % Change 15.5% 19.5% 17.9% 8.3% 8.7% 8.1% Townhouse 159 388 547 $508,232 $412,017 $439,985

Yr./Yr. % Change 16.1% -1.8% 2.8% 2.6% 11.8% 9.6% Condo Apartment 629 239 868 $381,709 $301,250 $359,555 Yr./Yr. % Change 9.0% 2.1% 7.0% -2.6% -4.3% -2.7%

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NEWS RELEASE