August 2015 Report

August 2015 Resale Home Sales

As announced by Toronto Real Estate Board President Mark McLean,Greater Toronto Area REALTORS® reported 7,998 residential transactions through the TREB MLS® System in August 2015. This result represented a 5.7 per cent increase compared to 7,568 sales reported in August 2014. On a GTA-wide basis, sales were up for all major home types.

The annual growth rate in new listings was greater than the annual growth rate in sales, but active listings at the end of August were still down compared to last year. This suggests that sellers’ market conditions remained in place, especially where low-rise home types like singles, semis and townhouses were concerned.

“Buyers in the GTA remain confident in their ability to purchase and pay for a home over the long term. They see ownership housing as a quality investment that has historically produced positive returns while at the same time providing owners with a place to live in their chosen community,” said Mr. McLean.

Both the MLS® Home Price Index (HPI) Composite Benchmark and the average selling price for all home types combined were up substantially in August compared to the same period in 2014, with both increasing by approximately 10 per cent year-over-year.

“A record year for home sales continued to unfold in August as competition between buyers exerted upward pressure on selling prices. It was encouraging to see annual growth in new listings outstrip annual growth in sales, but we will need to see this for a number of months before market conditions become more balanced," said Jason Mercer, TREB's Director of Market Analysis. 

Source: TREB

 

August

2015

2014

 

Sales

Average Price

New Listings

Sales

Average Price

New Listings

 

 

 

 

 

 

 

Sales City of Toronto ("416")

2,807

$605,817

4,883

2752

$564,270

4,239

Rest of GTA ("905")

5,191

$600,872

7,745

4,816

$536,318

7,420

GTA

7,998

$602,607

12,628

7,568

$546,482

11,659

 

 

 

 

 

 

 

Detached 2015

Sales

VYA

 

Average Price

VYA

 

Sales City of Toronto ("416")

756

-8.5%

 

$1,017,652

12.9%

 

Rest of GTA ("905")

2913

7.5%

 

$733,577

13.8%

 

GTA

3669

3.7%

 

$792,111

12.4%

 

 

 

 

 

 

 

 

Semi-Detached 2015

Sales

VYA

 

Average Price

VYA

 

Sales City of Toronto ("416")

231

-5.7%

 

$662,968

5.5%

 

Rest of GTA ("905")

565

5.0%

 

$492,428

10.5%

 

GTA

796

1.7%

 

$541,919

7.8%

 

 

 

 

 

 

 

 

Townhouse 2015

Sales

VYA

 

Average Price

VYA

 

Sales City of Toronto ("416")

315

1.3%

 

$524,136

13.2%

 

Rest of GTA ("905")

931

0.5%

 

$451,311

11.0%

 

GTA

1,246

0.7%

 

$469,721

11.7%

 

 

 

 

 

 

 

 

Condo Apartment 2015

Sales

VYA

 

Average Price

VYA

 

Sales City of Toronto ("416")

1475

10.1%

 

$406,587

9.5%

 

Rest of GTA ("905")

643

23.4%

 

$319,764

4.1%

 

GTA

2118

13.8%

 

$380,228

7.6%

 

 

 

 

 

 

 

 

Source: Market Watch Monthly News Release

 

 

 

 

 

Posted by Henry L Lam on September 7, 2015

 

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HenryL Lam

HenryL Lam

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CENTURY 21 Leading Edge Realty Inc., Brokerage*
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