Mid Month June 2016 Resale Home Sales

Greater Toronto Area REALTORS® reported 6,041 sales through TREB’s MLS® System during the first 14 days of June 2016. This result represented a 7.9 per cent increase compared to 5,598 sales reported for June 2015.

Year-over-year sales growth in the TREB market area was driven by transactions in the regions surrounding the City of Toronto. Sales in the ‘905’ and ‘705’ area codes were up strongly for all major market segments. In contrast, low-rise home sales were down in the City of Toronto compared to the same period in 2015. The annual low-rise sales decline in the ‘416’ area code was not due to a lack of demand, but rather a lack of listings to satisfy the housing needs of would-be home buyers.

The average selling price for the first two weeks of June 2016 was $758,507, which represented a year- over-year increase of 16.7 per cent compared to an average price of $649,741 reported for the same time period in 2015. Double-digit annual rates of average price growth were experienced for all low-rise home types.

Seller’s market conditions certainly remained in place in June, with an annual increase in sales up against an annual decline in new listings. As a result, strong competition between home buyers continued to influence robust rates of price growth. 

Source: TREB

June 1st - 14th 2016 2015
  Sales VYA New Listings Average Price VYA Sales Average Price New Listings
City of Toronto ("416") 2,113 2.3% 3,070 $787,047 13.3% 2065 $694,707 3,568
Rest of GTA ("905") 3,928 11.2% 5,107 $743,155 19.2% 3533 $623,459 5,256
GTA 6,041 7.9% 8,177 $758,507 16.7% 5,598 $649,741 8,824
                 
Detached 2016 Sales VYA   Average Price VYA      
City of Toronto ("416") 682 -3.8%   $1,291,866 22.1%      
Rest of GTA ("905") 2341 9.9%   $908,688 21.8%      
GTA 3023 6.4%   $995,134 20.8%      
                 
Semi-Detached 2016 Sales VYA   Average Price VYA      
City of Toronto ("416") 215 -1.4%   $910,018 21.9%      
Rest of GTA ("905") 402 20.4%   $580,719 18.8%      
GTA 617 11.8%   $695,467 17.7%      
                 
Townhouse 2016 Sales VYA   Average Price VYA      
City of Toronto ("416") 218 -11.7%   $613,343 13.7%      
Rest of GTA ("905") 668 6.2%   $531,218 15.2%      
GTA 886 1.1%   $551,425 14.1%      
                 
Condo Apartment 2016 Sales VYA   Average Price VYA      
City of Toronto ("416") 989 13.7%   $451,332 3.8%      
Rest of GTA ("905") 433 22.0%   $348,551 9.7%      
GTA 1422 16.1%   $420,036 4.7%      

 

 

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Donald Lum

Donald Lum

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