Our August: Real Estate Style

The Toronto Real Estate Board reported 7,600 sales through the Toronto MLS® system in August 2014. This result was up by 2.8% compared to 7,391 transactions reported in August 2013. Year to date sales through the end of August amounted to 65,454, which represented an increase of 6.5% compared to the same period in 2013. The average selling price in August 2014 was $546,303, up 8.9% in comparison to the average of $501,677 reported in August 2013. The year-to-date average price through August was $562,504, which represented an increase of 8.5% in comparison to the same period in 2013.

The number of listings in August were down in comparison to last year, while the number of sales increased. This means that sellers’ market conditions remained in place with a lot of competition between buyers.