Mid Month December 2015 Resale Home Sales

Toronto Real Estate Board Members reported 2,760 sales through TREB’s MLS® System during the first 14 days of December 2015 – up 11.9 per cent compared to the first two weeks of December 2014. Growth in new listings over the same period was also very strong. In fact, with an annual growth rate of more than 15 per cent, growth in new listings outstripped growth in sales, which has been a rare occurrence this year.

Strong growth in new listings likely helped fuel robust year-over-year gains in transactions across all major home types. With substantial pent-up demand remaining in the marketplace, many buyers acted quickly to take advantage of the uptick in new supply.

The average selling price for all home types combined was $621,571 for the first 14 days of December, representing a 10.2 per cent increase compared to the same period in 2014. Despite strong growth in new listings, competition between buyers remained strong enough to prompt double-digit price increases.

Broken down by home type and geography, the strongest price growth was reported for single-detached and semi-detached houses in the City of Toronto. For other home types, both in the City and surrounding regions, annual rates of price growth were in the high single digits or low double digits.

Source: TREB

December 1st - 14th 2015 2014
  Sales VYA New Listings Average Price VYA Sales Average Price New Listings
City of Toronto ("416") 1,125 15.6% 1,410 $652,337 12.9% 973 $577,886 1,203
Rest of GTA ("905") 1,635 9.4% 1,845 $600,402 8.2% 1494 $554,691 1,618
GTA 2,760 11.9% 3,255 $621,571 10.2% 2,467 $563,939 2,821
                 
                 
Detached 2015 Sales VYA   Average Price VYA      
City of Toronto ("416") 344 17.4%   $1,057,870 13.8%      
Rest of GTA ("905") 870 6.1%   $745,743 8.9%      
GTA 1214 9.1%   $834,187 11.3%      
                 
Semi-Detached 2015 Sales VYA   Average Price VYA      
City of Toronto ("416") 99 39.4%   $740,920 12.0%      
Rest of GTA ("905") 188 14.6%   $496,967 11.6%      
GTA 287 22.1%   $581,118 13.8%      
                 
Townhouse 2015 Sales VYA   Average Price VYA      
City of Toronto ("416") 120 9.1%   $551,893 11.6%      
Rest of GTA ("905") 324 19.6%   $457,632 8.4%      
GTA 444 16.5%   $483,108 9.0%      
                 
Condo Apartment 2015 Sales VYA   Average Price VYA      
City of Toronto ("416") 552 12.2%   $404,836 7.4%      
Rest of GTA ("905") 217 9.6%   $326,371 9.9%      
GTA 769 11.4%   $382,695 8.1%      

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Donald Lum

Donald Lum

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