Toronto Area REALTORS® reported 4,355 home sales through the TorontoMLS system during January 2015. up 6.1 % over January 2014. During the same period, new listings were up by 9.5 %. The average selling price for January 2015 home sales was up by 4.9 % year-over-year to $552,575. The MLS® Home Price Index (HPI) Composite benchmark was up by 7.5 % compared to January 2014.
“The January results represented good news on multiple fronts. First, strong sales growth suggests home buyers continue to see housing as a quality long-term investment, despite the recent period of economic uncertainty. Second, the fact that new listings grew at a faster pace than sales suggests that it has become easier for some people to find a home that meets their needs,” said Mr. Etherington.