Market Watch Summary:
- The second best sales result on record for December capped off a record year for TREB MLS® home sales in the GTA. Toronto Real Estate Board President Mark McLean announced that
- There were 4,945 sales reported in December 2015
- Total sales for 2015 101,299 – a substantial 9.2 per cent increase compared to 2014 as a whole.
- The average selling price for 2015 as a whole was $622,217 – up 9.8 per cent compared to $566,624 in 2014.
"Home ownership is a quality long-term investment that families can live in while the value increases over time. A relatively strong regional economy in the GTA coupled with low borrowing costs kept a record number of households – first-time buyers and existing homeowners alike – confident in their ability to purchase and pay for a home over the long term," said Mr. McLean.
"TREB will release its official 2016 outlook later in January, but suffice to say that the demand for ownership housing is expected to remain very strong in 2016." said Jason Mercer, TREB's Director of Market Analysis.
That's a wrap for January 2016!