Mid Month September 2015 Resale Home Sales

Toronto Real Estate Board Members reported 3,268 sales through the TREB MLS® System during the first two weeks of September 2015. This result was up by 1.8 per cent year- over-year. On a GTA-wide basis, annual growth in sales was driven by the townhouse and condominium apartment segments of the market.

The September mid-month sales result suggests that we could be on pace for a record number of transactions for the month as a whole, despite a constrained supply of listings for some low-rise home types like detached and semi-detached houses. Many GTA households remain confident in home ownership as a quality long-term investment. This confidence is underpinned by very accommodative borrowing costs and a relatively strong local economy in Toronto and its surrounding regions.

The average selling price for all home types combined, at $604,218, was up by 8.5 per cent compared to the first 14 days of September 2014. As has been the case for much of 2015, overall average price growth was driven by the detached market segment.

While September mid-month sales were up compared to last year, the number of new listings was down over the same period by 2.4 per cent to 7,272. This suggests that market conditions were tighter in many neighbourhoods this year compared to last. With more competition between buyers for available listings, average price growth for most home types remained well above the rate of inflation. 

Source: TREB

 

September 1st - 14th 2015 2014
  Sales VYA New Listings Average Price VYA Sales Average Price New Listings
City of Toronto ("416") 1,168 0.1% 3,037 $613,559 3.2% 1167 $594,730 3,127
Rest of GTA ("905") 2,100 2.8% 4,235 $599,022 11.9% 2042 $535,181 4,324
GTA 3,268 1.8% 7,272 $604,218 8.5% 3,209 $556,837 7,451
                 
                 
Detached 2015 Sales VYA   Average Price VYA      
City of Toronto ("416") 338 -6.9%   $1,008,754 8.5%      
Rest of GTA ("905") 1156 -0.6%   $743,646 15.7%      
GTA 1494 -2.1%   $803,624 13.0%      
                 
Semi-Detached 2015 Sales VYA   Average Price VYA      
City of Toronto ("416") 84 -25.7%   $669,431 -1.1%      
Rest of GTA ("905") 232 6.9%   $494,987 9.3%      
GTA 316 -4.2%   $541,358 2.2%      
                 
Townhouse 2015 Sales VYA   Average Price VYA      
City of Toronto ("416") 134 21.8%   $518,824 11.4%      
Rest of GTA ("905") 412 13.8%   $444,109 8.9%      
GTA 546 15.7%   $462,446 9.8%      
                 
Condo Apartment 2015 Sales VYA   Average Price VYA      
City of Toronto ("416") 604 6.7%   $406,686 3.9%      
Rest of GTA ("905") 258 3.6%   $295,459 -0.1%      
GTA 862 5.8%   $373,395 3.1%      

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