Mid Month February 2016 Resale Home Sales

Greater Toronto Area REALTORS® reported 3,500 sales through TREB’s MLS® System during the first 14 days of February 2016. This result represented a 13.5 per cent increase compared to 3,083 sales reported during the same time frame in 2015. For the TREB market area as a whole, annual rates of sales growth were strongest for condominium apartments, followed by semi- detached and detached houses.

Market conditions appeared to have tightened compared to last year, with annual growth in sales well outstripping annual growth in new listings entered into TREB’s MLS® System.

The average selling price for the first two weeks of February 2016 was $677,380, which represented a year-over-year increase of 12.5 per cent compared to an average price of $601,943 reported for the same time period in 2015. Annual rates of average price growth were quite uniform when broken down by home type, with similar rates of growth for condominium apartments and detached and semi-detached houses.

The strongest annual rate of price growth was for semi-detached houses in the City of Toronto. On top of this, in the ‘416’ area code, the average price of condominium apartments was up by more than 16 per cent year-over-year. 

Source: TREB

February 1st - 14th 2016 2015
  Sales VYA New Listings Average Price VYA Sales Average Price New Listings
City of Toronto ("416") 1,344 15.5% 2,168 $720,792 12.4% 1164 $641,484 2,161
Rest of GTA ("905") 2,156 12.4% 3,148 $650,317 12.5% 1919 $577,960 3,091
GTA 3,500 13.5% 5,316 $677,380 12.5% 3,083 $601,943 5,252
                 
Detached 2016 Sales VYA   Average Price VYA      
City of Toronto ("416") 412 7.9%   $1,196,231 13.3%      
Rest of GTA ("905") 1228 12.4%   $798,166 14.2%      
GTA 1640 11.2%   $898,168 13.5%      
                 
Semi-Detached 2016 Sales VYA   Average Price VYA      
City of Toronto ("416") 116 23.4%   $882,782 23.4%      
Rest of GTA ("905") 241 21.7%   $520,785 9.2%      
GTA 357 22.3%   $638,409 15.3%      
                 
Townhouse 2016 Sales VYA   Average Price VYA      
City of Toronto ("416") 123 6.0%   $586,047 14.7%      
Rest of GTA ("905") 378 0.3%   $481,494 9.7%      
GTA 501 1.6%   $507,163 11.3%      
                 
Condo Apartment 2016 Sales VYA   Average Price VYA      
City of Toronto ("416") 684 22.4%   $435,093 16.3%      
Rest of GTA ("905") 266 25.5%   $332,599 7.3%      
GTA 950 23.2%   $406,395 14.0%      

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Donald Lum

Donald Lum

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