Toronto Real Estate Board

Toronto Real Estate Board

September 04, 2015 09:09 ET

GTA REALTORS® Release Monthly Resale Housing Figures

TORONTO, ONTARIO--(Marketwired - Sept. 4, 2015) - Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 7,998 residential transactions through the TREB MLS® System in August 2015. This result represented a 5.7 per cent increase compared to 7,568 sales reported in August 2014. On a GTA-wide basis, sales were up for all major home types.

The annual growth rate in new listings was greater than the annual growth rate in sales, but active listings at the end of August were still down compared to last year. This suggests that sellers' market conditions remained in place, especially where low-rise home types like singles, semis and townhouses were concerned.

"Buyers in the GTA remain confident in their ability to purchase and pay for a home over the long term. They see ownership housing as a quality investment that has historically produced positive returns while at the same time providing owners with a place to live in their chosen community," said Mr. McLean.

Both the MLS® Home Price Index (HPI) Composite Benchmark and the average selling price for all home types combined were up substantially in August compared to the same period in 2014, with both increasing by approximately 10 per cent year-over-year.

"A record year for home sales continued to unfold in August as competition between buyers exerted upward pressure on selling prices. It was encouraging to see annual growth in new listings outstrip annual growth in sales, but we will need to see this for a number of months before market conditions become more balanced," said Jason Mercer, TREB's Director of Market Analysis.

Summary of Toronto MLS Sales and Average Price - August 1 - 31, 2015
2015 2014
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 2,807 605,817 4,883 2,752 564,270 4,239
Rest of GTA ("905") 5,191 600,872 7,745 4,816 536,318 7,420
GTA 7,998 602,607 12,628 7,568 546,482 11,659
Toronto MLS Sales & Average Price By Home Type - August 1 - 31, 2015
Sales Average Price
416 905 Total 416 905 Total
Detached 756 2,913 3,669 1,017,652 733,577 792,111
Yr./Yr. % Change -8.5 % 7.5 % 3.7 % 12.9 % 13.8 % 12.4 %
Semi-Detached 231 565 796 662,968 492,428 541,919
Yr./Yr. % Change -5.7 % 5.0 % 1.7 % 5.5 % 10.5 % 7.8 %
Townhouse 315 931 1,246 524,136 451,311 469,721
Yr./Yr. % Change 1.3 % 0.5 % 0.7 % 13.2 % 11.0 % 11.7 %
Condo Apartment 1,475 643 2,118 406,587 319,764 380,228
Yr./Yr. % Change 10.1 % 23.4 % 13.8 % 9.5 % 4.1 % 7.6 %
August 2015 Year-Over-Year Per Cent Change in the MLS® HPI
Composite
(All Types)
Single-Family Detached Single-Family Attached Townhouse
Apartment
TREB Total 9.99 % 11.55 % 10.98 % 9.63 % 4.66 %
Halton Region 9.50 % 9.82 % 9.53 % 6.25 % -
Peel Region 9.38 % 10.54 % 10.79 % 9.23 % 2.62 %
City of Toronto 7.54 % 9.62 % 8.03 % 8.89 % 4.59 %
York Region 14.14 % 14.69 % 14.58 % 14.04 % 7.17 %
Durham Region 13.80 % 13.40 % 15.01 % 10.92 % 10.97 %
Orangeville 8.00 % 8.73 % 8.18 % - -
South Simcoe County1 12.79
% 12.66
% 12.14
% -
-
1South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth

Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 42,000 TREB Members serve consumers in the Greater Toronto Area. TREB is Canada's largest real estate board.

Contact Information

  • Media Inquiries: Toronto Real Estate Board
    Mary Gallagher
    Senior Manager Public Affairs
    (416) 443-8158
    maryg@trebnet.com