Strong Start to 2016

February 3, 2016 -- Toronto Real Estate Board President Mark McLean announced Greater Toronto Area REALTORS® reported 4,672 residential transactions through TREB's MLS® System in January 2016. This result represented an 8.2 per cent increase compared to January 2015.

"It is clear that the handoff from 2015 to 2016 was a strong one. This is not surprising given that recent polling conducted for TREB by Ipsos suggested 12 per cent of GTA households were seriously considering the purchase of a home in 2016. Buying intentions are strong for this year as households continue to see home ownership as an affordable long-term investment," said McLean.

The MLS® Home Price Index Composite Benchmark Price for January 2016 was up by 10.7 per cent on a year-over-year basis. The average selling price over the same period was up by 14.1 per cent.

The difference in the annual growth rates for the MLS® HPI and average price was largely due to a greater share of high-end detached homes sold in the regions surrounding the City of Toronto this year compared to last. The MLS® HPI removes the impact of shifts in the share of different property types sold from one year to the next.

"Market conditions in January were tighter compared to a year earlier, with an annual increase in sales up against a decline in listings. This is why growth in the MLS® HPI benchmarks continued to be strong, especially for singles, semis and townhouses, where there has been a persistent lack of inventory," said Jason Mercer, TREB's Director of Market Analysis.

Niilo Schonfeld

2015 Review By Quarter

As per Toronto Real Estate Board Statistics

Quarter 1: January – March

Average Sale Price:

$587,537 – 7.56% Increase over Q1, 2014

Total Sales:

19,633 – 9.46% Increase over Q1, 2014

 

Quarter 2:  April – June

Average Sale Price:

$641,571 – 11.09% Increase over Q2, 2014

Total Sales:

35,001 – 13.62% Increase over Q2, 2014

 

Quarter 3: July – September

Average Sale Price:

$613,079 – 10.03% Increase over Q3, 2014

Total Sales:

26,078 – 5.48% Increase over Q3, 2014

 

Quarter 4: October - December

Average Sale Price:

$624,223 – 8.76% Increase over Q4, 2014

Total Sales:

21,134 – 8.9% Increase over Q4, 2014

 

 

 

 

Contact me for more information on your neighbourhood!

 

Niilo Schonfeld
Sales Representative
nschonfeld@trebnet.com