The number of sales reported through the TorontoMLS system in August 2014 has risen by 2.8 per cent, when compared to August 2013. Sales were up for all major home types, showing that both the buyers and sellers remain active.

TO Financial District by Joseph Morris

"The last full month of summer ended on a high note. As we look toward the fall market, I expect that demand for ownership housing will remain strong. Home buyers will continue to benefit from a diversity of affordable home ownership opportunities throughout the GTA. The fact that sales were up for all major home types in August suggests that first-time buyers and existing home owners remain very active in today’s marketplace,"

said TREB's president, Paul Etherington.

The average selling price in August 2014 was $546,303 - up 8.9 per cent in comparison to the average selling price in August 2013. The number of listings was down in comparison to last year, but the number of sales has increased.