June 2015 Resale Home Sales

Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 11,992 sales through TREB’s MLS® System in June 2015. This result represented a new record for the month of June and an 18.4 per cent increase over the June 2014 result of 10,132.

“As I begin my term as TREB President, I think it is important to point out that our region continues to grow in response to our diverse economic, ethnic and cultural bases. The GTA consistently receives international accolades as one of the best places in the world to live and do business. As the number of households grow, many of them will take advantage of the diversity of affordable home ownership opportunities that exist in Toronto and the surrounding areas,” said Mr. McLean.

Selling prices were up markedly on a year-over-year basis in June, for all major home types. The MLS® Home Price Index (HPI) Composite Benchmark was up by 8.9 per cent in comparison to June 2014. The average selling price was up by 12.3 per cent over the same period to $639,184.

High-end homes have accounted for a greater share of overall transactions this year compared to last year. This is the key reason why the average selling price has increased at a greater annual rate than the MLS® HPI Composite Benchmark.

“It is encouraging to see that new listings have edged upward so far this year, as homeowners have reacted to strong home price growth and have looked to take advantage of increased equity in their homes. However, the annual rate of sales growth continues to far outstrip listings growth, which means that there remains a lot of willing buyers in the marketplace who haven’t found a home that meets their needs. As long as this situation persists, expect home prices to trend strongly upward,” said Jason Mercer, TREB’s Director of Market Analysis. 

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June 2015 2014
  Sales Average Price New Listings Sales Average Price New Listings
             
Sales City of Toronto ("416") 4,406 $682,264 7,169 3780 $618,526 6,499
Rest of GTA ("905") 7,586 $614,162 10,577 6,352 $539,806 10,134
GTA 11,992 $639,184 17,746 10,132 $569,174 16,633
             
Detached 2015 Sales VYA   Average Price VYA  
Sales City of Toronto ("416") 1488 13.7%   $1,051,912 14.2%  
Rest of GTA ("905") 4457 20.0%   $738,016 15.0%  
GTA 5945 18.3%   $816,583 14.3%  
             
Semi-Detached 2015 Sales VYA   Average Price VYA  
Sales City of Toronto ("416") 456 1.8%   $761,819 13.2%  
Rest of GTA ("905") 754 10.6%   $496,740 10.7%  
GTA 1,210 7.1%   $596,638 11.0%  
             
Townhouse 2015 Sales VYA   Average Price VYA  
Sales City of Toronto ("416") 509 21.2%   $539,259 10.8%  
Rest of GTA ("905") 1396 18.4%   $459,004 14.0%  
GTA 1,905 19.1%   $480,447 13.1%  
             
Condo Apartment 2015 Sales VYA   Average Price VYA  
Sales City of Toronto ("416") 1906 21.3%   $418,599 7.0%  
Rest of GTA ("905") 794 25.2%   $324,388 4.6%  
GTA 2700 22.4%   $390,894 6.3%  
             
Source: Market Watch Monthly News Release        

 

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Donald Lum

Donald Lum

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