Report on last months News
GTA Resale Housing Sales Up
Year over Year Summary Table (to date)
Report as of Thursday, January 7, 2016
In this Issue of my newsletter
This charts below show the historical annual price and sales volumes to current month:
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
Record Sales in December 2015
Record TREB MLS® 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
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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