Mid Month April 2016 Resale Home Sales

Greater Toronto Area REALTORS® reported 5,537 sales through TREB’s MLS® System during the first 14 days of April 2016. This result represented more than a 20 per cent increase compared to 4,604 sales reported for April 2015.

Double-digit annual rates of sales growth were common for many market segments, both in the City of Toronto and the surrounding regions making up the balance of the TREB market area. A notable exception was for sales of semi-detached homes in the ‘416’ area code, where sales were down compared to last year. This was likely due to a lack of listings rather than a lack of demand.

The average selling price for the first two weeks of April 2016 was $730,330, which represented a year- over-year increase of 16.9 per cent compared to an average price of $624,821 reported for the same time period in 2015. Annual rates of price growth were stronger for low-rise home types, both in the City of Toronto and the surrounding regions. This reflects the tighter market conditions for these home types compared to those for condominium apartments.

It is important to remember that average price growth can result from both changes in market conditions and changes in the mix of home types sold from one year to the next. In contrast, MLS® Home Price Index (HPI) benchmark prices reflect price changes attributable to market conditions. MLS® HPI statistics are released monthly in TREB’s Market Watch publication. 

Source: TREB

 

April 1st - 14th 2016         2015    
  Sales VYA New Listings Average Price VYA Sales Average Price New Listings
City of Toronto ("416") 1,899 17.1% 3,015 $761,142 12.9% 1622 $674,278 3,198
Rest of GTA ("905") 3,638 22.0% 4,736 $714,246 19.5% 2982 $597,920 4,722
GTA 5,537 20.3% 7,751 $730,330 16.9% 4,604 $624,821 7,920
                 
Detached 2016 Sales VYA   Average Price VYA      
City of Toronto ("416") 639 13.5%   $1,247,876 17.7%      
Rest of GTA ("905") 2165 24.4%   $867,607 20.4%      
GTA 2804 21.7%   $954,266 18.8%      
                 
Semi-Detached 2016 Sales VYA   Average Price VYA      
City of Toronto ("416") 158 -8.7%   $897,444 26.0%      
Rest of GTA ("905") 344 22.0%   $578,748 18.9%      
GTA 502 10.3%   $679,055 18.6%      
                 
Townhouse 2016 Sales VYA   Average Price VYA      
City of Toronto ("416") 190 8.0%   $596,392 11.0%      
Rest of GTA ("905") 641 15.5%   $501,726 12.9%      
GTA 831 13.7%   $523,371 12.1%      
                 
Condo Apartment 2016 Sales VYA   Average Price VYA      
City of Toronto ("416") 896 29.3%   $431,189 10.0%      
Rest of GTA ("905") 391 22.2%   $346,917 10.6%      
GTA 1287 27.0%   $405,587 10.4%      

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