2015 GTA Real Estate Market Update

2015 GTA Real Estate Market Update

Greetings to All , The great news from 2015 continues and your investments are making great gains .....

--> Total GTA Sales for 2015 was 101,299 - A 9.2 % increase over 2014 

--> The average selling price for 2015 as a whole was $622,217 – up 9.8 per cent compared to $566,624 in 2014.


Record TREB® Home Sales in 2015
TORONTO, January 6, 2016 – 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
bringing the 2015 calendar year total to 101,299 – a substantial 9.2 per cent increase
compared to 2014 as a whole. Strong annual sales increases were experienced for all major
home types last year.
"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.
"If the market had benefitted from more listings, the 2015 sales total would have been greater.
As it stands, we begin 2016 with a substantial amount of pent-up demand," continued Mr.
McLean.
The average selling price for 2015 as a whole was $622,217 – up 9.8 per cent compared to
$566,624 in 2014. The MLS® HPI Composite Benchmark Price was up by a similar annual
rate of 10 per cent in December. GTA home price growth was driven by the low-rise segments
of the market, but condominium apartment price growth was generally well-above the rate of
inflation as well through 2015.
"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. Despite stricter mortgage
lending guidelines and the possibility of slightly higher borrowing costs, on average, there will
be many buyers who remain upbeat on the purchase of ownership housing," said Jason
Mercer, TREB's Director of Market Analysis.

Mohammed Ahmed

Mohammed Ahmed

Sales Representative
CENTURY 21 Innovative Realty Inc., Brokerage*
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