Toronto Real Estate Board

Toronto Real Estate Board

November 05, 2015 07:00 ET

GTA REALTORS® Release Monthly Resale Housing Figures

TORONTO, ONTARIO--(Marketwired - Nov. 5, 2015) - Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 8,804 home sales through TREB's MLS® System in October 2015. This is the best result on record for the month of October.

"It is clear that many GTA households remain upbeat about home ownership because owning a home represents a high quality, long-term investment. We will see a big, new record this year for home sales reported through TREB's MLS® System," said Mr. McLean.

"Despite the record October result, I must point out that the Government of Ontario could hamper home sales in the near future. The Wynne government is seriously considering allowing municipalities throughout Ontario to institute a second land transfer tax on top of the existing provincial tax. Recent polling has shown that the great majority of Ontarians oppose this tax and would consider delaying a move if they were forced to bear the additional upfront cost," added Mr. McLean.

The MLS® Home Price Index (HPI) Composite Benchmark was up by 10.3 per cent year over year in October. Over the same period, the average selling price for all home types combined was up by 7.3 per cent to $630,876. Price growth continued to be driven by the low-rise market segments.

"Record sales coupled with a constrained supply of listings in many GTA neighbourhoods has underpinned very strong price growth throughout 2015. Even if we do see a greater supply of low-rise listings in the marketplace over the next year, market conditions will remain tight enough to see continued price growth well-above the rate of inflation," said Jason Mercer, TREB's Director of Market Analysis.

Summary of TorontoMLS Sales and Average Price - October 1 -31, 2015
2015 2014
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 3,431 671,350 5,593 3,404 633,483 5,665
Rest of GTA ("905") 5,373 605,030 7,746 5,108 557,598 7,724
GTA 8,804 630,876 13,339 8,512 587,945 13,389
TorontoMLS Sales & Average Price By Home Type - October 1 -31, 2015
Sales Average Price
416 905 Total 416 905 Total
Detached 1,077 3,023 4,100 1,071,394 734,745 823,177
Yr./Yr. % Change -9.7 % 2.4 % -1.1 % 12.5 % 9.1 % 9.2 %
Semi-Detached 381 542 923 747,149 512,234 609,203
Yr./Yr. % Change 1.9 % 4.2 % 3.2 % 10.0 % 13.8 % 11.6 %
Townhouse 347 1,030 1,377 579,358 456,585 487,524
Yr./Yr. % Change -3.6 % 9.1 % 5.6 % 11.2 % 10.1 % 9.8 %
Condo Apartment 1,587 632 2,219 406,792 318,317 381,593
Yr./Yr. % Change 9.7 % 9.7 % 9.7 % 4.2 % 3.0 % 3.9 %
October 2015 Year-Over-Year Per Cent Change in the MLS® HPI
Composite (All Types) Single-Family Detached Single-Family Attached Townhouse Apartment
TREB Total 10.33 % 11.67 % 11.06 % 10.57 % 5.23 %
Halton Region 9.74 % 9.75 % 9.75 % 8.42 % -
Peel Region 9.52 % 10.07 % 10.67 % 10.30 % 3.66 %
City of Toronto 8.21 % 10.53 % 8.53 % 9.27 % 5.21 %
York Region 14.17 % 14.79 % 14.59 % 14.35 % 7.07 %
Durham Region 13.02 % 12.57 % 13.92 % 13.39 % 9.57 %
Orangeville 10.33 % 10.60 % 10.20 % - -
South Simcoe County1 12.93 % 11.47 % 14.96 % - -
Source: Toronto Real Estate Board
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.

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