Strong Start in 2016 Real Estate Activities in Greater Toronto Area.

Toronto Real Estate Board President Mark McLean announced Greater Toronto Area REALTORS® reported 4,672 residential transactions through TREB’s MLS® System in January 2016. This result represented an 8.2 per cent increase compared to January 2015.
“It is clear that the handoff from 2015 to 2016 was a strong one. This is not surprising
given that recent polling conducted for TREB by Ipsos suggested 12 per cent of GTA
households were seriously considering the purchase of a home in 2016. Buying intentions
are strong for this year as households continue to see home ownership as an affordable
long-term investment,” said McLean.Toronto MLS Sale

The MLS® Home Price Index Composite Benchmark Price for January 2015 was up by 11.2 per cent on a year-over-year basis. The average selling price over the same period was up by 14.1 per cent.
The difference in the annual growth rates for the MLS® HPI and average price was largely due to a greater share of high-end detached homes sold in the regions surrounding the
City of Toronto this year compared to last. The MLS® HPI removes the impact of shifts in the share of different property types sold from one year to the next.

“Market conditions in January were tighter compared to a year earlier, with an annual
increase in sales up against a decline in listings. This is why growth in the MLS® HPI
benchmarks continued to be strong, especially for singles, semis and townhouses, where
there has been a persistent lack of inventory,” said Jason Mercer, TREB’s Director of
Market Analysis.

Please click on the above Chart for more detailed graphs.

Click here for Complete GTA Real Estate Report in January 2016

Click here for Complete Durham Region Real Estate Report in January 2016

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Najib Shams

Najib Shams

Sales Representative
CENTURY 21 King's Quay Real Estate Inc., Brokerage*
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