Report on last months News
GTA Resale Housing Sales Up
Report as of Tuesday, May 16, 2017
In this Issue of my newsletter
This is the report for latest month in real estate sales from the Toronto real estate board and indicates a 'normal' amount of activity and price levels.
Below is the latest release of figures
See more at this page about average prices and read the TREB full price and data report below.
PRESS RELEASE: Sales & Price Growth Continue last month
See the full press release below.
Please refer to this page to see a graph of Average prices and More
This is the full price and data report from TREB for last month
November Home Sales Up Year-Over-Year
GTA REALTORS® RELEASE MONTHLY RESALE HOUSING MARKET FIGURES
Sales Up and Listings Up last month
Strong Growth in New Listings in AprilTORONTO, ONTARIO, May 3, 2017 – Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® entered 33.6 per cent more new listings into TREB's MLS® System in April 2017, at 21,630, compared to the same month in 2016.
New listings were up by double-digits for all low-rise home types, including detached and semi-detached houses and townhouses. New listings for condominium apartments were at the same level as last year.
Total sales for the TREB market area as a whole amounted to 11,630 – down 3.2 per cent year-over-year. One issue underlying this decline was the fact that Easter fell in April in 2017 versus March in 2016, which resulted in fewer working days this year compared to last and, historically, most sales are entered into TREB's MLS® System on working days.
"The fact that we experienced extremely strong growth in new listings in April means that buyers benefitted from considerably more choice in the marketplace. It is too early to tell whether the increase in new listings was simply due to households reacting to the strong double-digit price growth reported over the past year or if some of the increase was also a reaction to the Ontario government's recently announced Fair Housing Plan," said Mr. Cerqua.
The MLS® Home Price Index (HPI) Composite Benchmark Price was up by 31.7 per cent yearover- year in April 2017. Similarly, the average selling price for all home types combined was up by 24.5 per cent to $920,791.
"It was encouraging to see a very strong year-over-year increase in new listings. If new listings growth continues to outpace sales growth moving forward, we will start to see more balanced market conditions. It will likely take a number of months to unwind the substantial pent-up demand that has built over the past two years. Expect annual rates of price growth to remain well-above the rate of inflation as we move through the spring and summer months," said Jason Mercer, TREB's Director of Market Analysis.
All the Best!
This chart plots the monthly MLS average home price for the current year and the previous three years. The recurring seasonal trend can be seen along with comparisons to previous years for each month. You can click the thumbnail below to see a larger printable version. As well, you can see the season trends in graphical form
I hope this finds you Happy and Healthy!
All the Best!
Read about Housing market indicators from last month
Summary of TorontoMLS Sales and Average Price
Sales by housing type
See the Average Price Cycles from January 1995 to Date - a very interesting cyclical pattern is clearly seen!
See how the historical 1 year mortgage interest rate compares to the 5 year rate
Mississauga District Prices
Update: The figures are in for 2012 and the average price was $479,000, I've updated the graph below to reflect these changes....stay tuned!
Below is the estimate as of 2012
Breaking down the total Numbers into TREB Areas for this month
Please browse here if you wish to see all the TREB Sales stats for 2007
This graph shows the 1989 real estate recession in the GTA and how long it took to recover from the drop in the average price from the peak price in February of 1989 to 2002
Statistics Canada, Quarter-over-quarter growth, on an annual basis, Statistics Canada, Year-over-year growth for the most recently reported month, Bank of Canada, Rate from most recent Bank of Canada announcement Bank of Canada, Rates for most recently completed month
Historic Sales Figures
Rental Market indicators in the GTA
This chart shows the breakdown of single family residential sales (detached, semi's, townhomes and condos) for last month.
Excellent, I am ready for an online evaluation
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