Toronto home prices up 10 per cent

The average selling price for a house in Toronto for the first half of February 2015 was $602,110, a 10.3 per cent increase compared to the average reported for the same period in 2014.

Figures published today by the Toronto Real Estate Board said that the annual price growth continued to be driven by the tight low-rise market segment, with double-digit growth reported for detached and semi-detached homes.

"With tight market conditions continuing to prevail in most parts of the Greater Toronto Area, especially where low-rise home types are concerned, it is no surprise that we continue to see strong competition between buyers leading to robust annual rates of price growth," said Jason Mercer, TREB's director of market analysis.

TREB also reported a 14.9 per cent increase in the number of sales entered in the Toronto MLS system during the first two weeks of February compared to the same period in 2014.

There was a total of 3,120 home sales during the first 14 days of February 2015.

The number of new listings entered into the system was also up on a year-over-year basis, but by a lesser annual rate of 3.5 per cent.

"As households continue to take advantage of the great diversity of homeownership options in the Greater Toronto Area, home sales have continued to trend upwards," said Paul Etherington, president of TREB.

"While home prices are higher compared to this time last year, borrowing costs are lower. Homebuyers are still finding affordable options to meet their housing needs."

Find out more about median house prices, capital growth and demographics in Toronto and other Canadian cities with CREW’s free online Investment Hotspot tool.


Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Investment Hot Spots:
Lake Pleasant, Crossfield, Kawartha Lakes, Lac La Biche, Auclair


  • by Neil Murphy 2015-02-19 6:49:24 AM

    This does not seem to be going in the direction all the economist said it would!

  • by Jan 2015-02-20 8:57:26 PM

    The old joke is that if you ask 5 economists, you get 5 different answers and 6 if one went to Harvard !

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address


Is a T.O foreign sales tax a good idea?