January 2016 Resale Home Sales

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 2015 was up by 11.2 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. 

Source: TREB

January 2016 2015
  Sales Average
Price
New
Listings
Sales Average
Price
New
Listings
             
Sales City of Toronto ("416") 1,699 $636,728 3,757 1544 $583,084 3,901
Rest of GTA ("905") 2,973 $627,871 5,200 2,774 $536,139 5,646
GTA 4,672 $631,092 8,957 4,318 $552,925 9,547
Detached 2016 Sales VYA   Average
Price
VYA  
Sales City of Toronto ("416") 496 11.2%   $1,061,789 11.6%  
Rest of GTA ("905") 1613 5.4%   $783,565 20.9%  
GTA 2109 6.7%   $848,999 18.5%  
Semi-Detached 2016 Sales VYA   Average
Price
VYA  
Sales City of Toronto ("416") 122 -3.2%   $713,972 7.3%  
Rest of GTA ("905") 330 14.6%   $515,024 12.8%  
GTA 452 9.2%   $568,723 9.3%  
Townhouse 2016 Sales VYA   Average
Price
VYA  
Sales City of Toronto ("416") 172 14.7%   $519,732 1.3%  
Rest of GTA ("905") 559 8.3%   $472,039 12.0%  
GTA 731 9.8%   $483,261 9.3%  
Condo Apartment 2016 Sales VYA   Average
Price
VYA  
Sales City of Toronto ("416") 897 11.6%   $416,104 8.6%  
Rest of GTA ("905") 405 3.6%   $319,855 3.1%  
GTA 1302 9.0%   $386,165 7.5%  

 

 

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Donald Lum

Donald Lum

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
Contact Me