Mid Month March 2016 Resale Home Sales

Greater Toronto Area REALTORS® reported 4,569 sales through TREB’s MLS® System during the first 14 days of March 2016. The number of transactions was up by 20.3 per cent compared to 3,797 transactions reported during the same period in 2015. For the TREB market area as a whole, double-digit annual rates of sales growth were experienced for all major market segments, with semi-detached house sales up by the greatest rate compared to last year.

The number of new listings reported by TREB Members during the first two weeks of March amounted to 6,689 a 1.2 per cent decrease, which had its roots in the City of Toronto.

With market conditions tightening compared to last year, strong competition between buyers resulted in the average selling price for March mid-month transactions increasing by 12 per cent year-over-year. Low-rise market segments continued to drive price growth, but the condominium apartment market segment also continued to experience an annual rate of price growth more than double the rate of inflation.

In the City of Toronto, detached and semi-detached house price growth was not as strong compared to the surrounding region. This was due to the fact that fewer higher end homes were sold during the first 14 days of March compared to the same period in 2015. 

Source: TREB

March 1st - 14th 2016 2015
  Sales VYA New Listings Average Price VYA Sales Average Price New Listings
City of Toronto ("416") 1,611 13.9% 2,540 $718,907 4.4% 1415 $688,728 2,681
Rest of GTA ("905") 2,958 24.2% 4,149 $680,164 17.6% 2382 $578,288 4,089
GTA 4,569 20.3% 6,689 $693,825 12.0% 3,797 $619,445 6,770
                 
Detached 2016 Sales VYA   Average Price VYA      
City of Toronto ("416") 515 4.7%   $1,162,110 5.7%      
Rest of GTA ("905") 1711 25.3%   $831,107 18.9%      
GTA 2226 19.8%   $907,687 12.7%      
                 
Semi-Detached 2016 Sales VYA   Average Price VYA      
City of Toronto ("416") 150 31.6%   $839,535 7.2%      
Rest of GTA ("905") 304 30.5%   $555,340 15.3%      
GTA 454 30.8%   $649,237 11.8%      
                 
Townhouse 2016 Sales VYA   Average Price VYA      
City of Toronto ("416") 177 14.2%   $656,954 22.2%      
Rest of GTA ("905") 512 10.3%   $491,586 12.2%      
GTA 689 11.3%   $534,068 15.3%      
                 
Condo Apartment 2016 Sales VYA   Average Price VYA      
City of Toronto ("416") 756 16.5%   $409,101 2.7%      
Rest of GTA ("905") 341 27.7%   $337,214 11.5%      
GTA 1097 19.8%   $386,755 4.4%      

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