Mid Month November 2015 Resale Home Sales

Toronto Real Estate Board Members reported 3,616 sales through the TREB MLS® System during the first 14 days of November 2015. This result represented a 9.4 per cent increase compared to November 2014. Year-over-year sales growth was strong for all major market segments, with the annual rate of sales growth strongest for semi-detached houses in the TREB market area as a whole.

The number of new listings entered into the TREB MLS® System by Members was also up compared to 2014, but by a lesser annual rate than sales. This suggests that market conditions remained quite tight, with inventory levels remaining low, especially for low-rise home types like detached and semi-detached houses and townhouses.

Growth in the overall average price for the TREB market area over the past year remained strong, with the average for the first two weeks of November amounting to $635,440. This result represented a 9.5 per cent increase over the average price reported for the first two weeks of November 2014.

Broken down by home type and geography, the strongest price growth in the City of Toronto and the surrounding regions was reported for single-detached houses. While tight market conditions and the resulting competition between buyers certainly played a key role in price growth, it is important to remember that changes in average prices can also be influenced by the mix of homes sold from one period to the next. 

Source: TREB

 

November 1st - 14th 2015 2014
  Sales VYA New Listings Average Price VYA Sales Average Price New Listings
City of Toronto ("416") 1,391 0.7% 2,214 $663,415 6.2% 1382 $624,885 2,137
Rest of GTA ("905") 2,225 15.6% 2,983 $617,950 12.8% 1924 $547,899 2,829
GTA 3,616 9.4% 5,197 $635,440 9.5% 3,306 $580,081 4,966
                 
                 
Detached 2015 Sales VYA   Average Price VYA      
City of Toronto ("416") 439 -9.7%   $1,042,878 12.5%      
Rest of GTA ("905") 1264 15.6%   $758,338 14.0%      
GTA 1703 7.9%   $831,687 11.5%      
                 
Semi-Detached 2015 Sales VYA   Average Price VYA      
City of Toronto ("416") 144 14.3%   $750,852 10.8%      
Rest of GTA ("905") 229 16.2%   $503,765 13.9%      
GTA 373 15.5%   $599,155 12.2%      
                 
Townhouse 2015 Sales VYA   Average Price VYA      
City of Toronto ("416") 148 9.6%   $550,828 8.0%      
Rest of GTA ("905") 410 11.1%   $455,774 10.9%      
GTA 558 10.7%   $480,986 9.9%      
                 
Condo Apartment 2015 Sales VYA   Average Price VYA      
City of Toronto ("416") 656 5.4%   $417,709 2.7%      
Rest of GTA ("905") 278 13.4%   $316,838 4.2%      
GTA 934 7.7%   $387,685 2.1%      
                 

 

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Donald Lum

Donald Lum

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