Record Sales in Toronto for November 2015

Record Sales in November 2015
TORONTO, December 3, 2015 – Toronto Real Estate Board President Mark McLean
announced that Greater Toronto Area REALTORS® reported 7,385 home sales
through TREB’s MLS® System in November 2015 – up by 14 per cent compared to
November 2014. This result also represented the best result on record for the month
of November. Sales through the first eleven months of 2015 amounted to 96,401.
“Not only did we see a record sales result for November, but with one month left to
go in 2015, we have already set a new calendar year record for home sales in the
TREB market area, eclipsing the previous record set in 2007. Sales were up on a
year-over-year basis for all major home types, both in the City of Toronto and
surrounding regions. This suggests that the demand for ownership housing is
widespread, from first-time buyers to long-time homeowners across the GTA,” said
Mr. McLean.
The MLS® Home Price Index (HPI) Composite Benchmark was up by 10.3 per cent
year over year in November. The average selling price for all transactions was also
up by a similar annual rate of 9.6 per cent to $632,685. Annual rates of average
price growth for November and the first eleven months of 2015 were similar, with the
strongest rates of increase being reported for low-rise home types, including
detached and semi-detached houses and townhouses.
“Demand for ownership housing has remained strong in the GTA throughout 2015,
with sales generally increasing at a greater annual rate compared to new listings.
This means that competition between buyers has strengthened in many
neighbourhoods in the City of Toronto and surrounding regions. The end result has
been upward pressure on home prices well above the rate of inflation in most cases,”
said Jason Mercer, TREB’s Director of Market Analysis.

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Wally Buczkowski

Wally Buczkowski

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CENTURY 21 Leading Edge Realty Inc., Brokerage*
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