Report on last months News
GTA Resale Housing Sales Up
Report as of Thursday, June 9, 2016
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
Strong Sales Growth Continues in May
TORONTO, June 3, 2016 – Toronto Real Estate Board President Mark McLean announced that there were 12,870 home sales reported through TREB’s MLS® System in May 2016.
This result represented a new record for the month of May and a 10.6 per cent increase over the same period last year.
In contrast, the number of new listings was down over the same time frame by 6.4 per cent. The decline in listings was experienced in both the low-rise and condominium apartment market segments.
“Whether we’re talking about existing homeowners or people looking to purchase for the first time, there is no shortage of buyers in the marketplace today. So, while the record number of home sales through the first five months of 2016 is not necessarily surprising, it does sometimes mask the larger story in the GTA: the shortage of listings, which has resulted in strong upward pressure on home prices,” said Mr. McLean.
The MLS® Home Price Index Composite Benchmark was up by 15 per cent year-overyear in May 2016.
Similarly, the average selling price for all home types combined was up by 15.7 per cent over the same period. Low-rise home types, which remained in short supply in many GTA neighbourhoods, experienced the strongest price growth.
“Widespread competition between buyers of singles, semis and townhouses across the GTA has underpinned the robust annual rates of price growth experienced so far this year. With this said, however, it is also important to understand that tighter market conditions for condominium apartments have resulted in price growth well above the rate of inflation in this
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 for last month.
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April 9, '51 da 2002
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