Toronto Real Estate Board

Toronto Real Estate Board

December 03, 2015 07:30 ET

GTA REALTORS® Release Monthly Resale Housing Figures

Best Result on Record for the Month of November

TORONTO, ONTARIO--(Marketwired - Dec. 3, 2015) - Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 7,385 home sales through TREB's MLS® System in November 2015 - up by 14 per cent compared to November 2014. This result also represented the best result on record for the month of November. Sales through the first eleven months of 2015 amounted to 96,401.

"Not only did we see a record sales result for November, but with one month left to go in 2015, we have already set a new calendar year record for home sales in the TREB market area, eclipsing the previous record set in 2007. Sales were up on a year-over-year basis for all major home types, both in the City of Toronto and surrounding regions. This suggests that the demand for ownership housing is widespread, from first-time buyers to long-time homeowners across the GTA," said Mr. McLean.

The MLS® Home Price Index (HPI) Composite Benchmark was up by 10.3 per cent year over year in November. The average selling price for all transactions was also up by a similar annual rate of 9.6 per cent to $632,685. Annual rates of average price growth for November and the first eleven months of 2015 were similar, with the strongest rates of increase being reported for low-rise home types, including detached and semi-detached houses and townhouses.

"Demand for ownership housing has remained strong in the GTA throughout 2015, with sales generally increasing at a greater annual rate compared to new listings. This means that competition between buyers has strengthened in many neighbourhoods in the City of Toronto and surrounding regions. The end result has been upward pressure on home prices well above the rate of inflation in most cases," said Jason Mercer, TREB's Director of Market Analysis.

Summary of TorontoMLS Sales and Average Price November 1 - 30, 2015
2015 2014
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 2,863 654,221 4,123 2,641 616,241 3,790
Rest of GTA ("905") 4,522 619,050 5,486 3,835 550,825 4,926
GTA 7,385 632,685 9,609 6,476 577,502 8,716
TorontoMLS Sales & Average Price By Home Type November 1 - 30, 2015
Sales Average Price
416 905 Total 416 905 Total
Detached 901 2,550 3,451 1,018,621 762,326 829,241
Yr./Yr. % Change 0.7 % 18.5 % 13.3 % 8.8 % 13.5 % 10.7 %
Semi-Detached 297 467 764 750,608 504,928 600,435
Yr./Yr. % Change 14.2 % 21.0 % 18.3 % 12.4 % 12.5 % 11.8 %
Townhouse 298 851 1,149 549,649 460,274 483,454
Yr./Yr. % Change 11.2 % 15.8 % 14.6 % 9.1 % 12.0 % 10.9 %
Condo Apartment 1,351 573 1,924 415,316 315,223 385,506
Yr./Yr. % Change 13.3 % 22.7 % 16.0 % 5.4 % 1.5 % 4.1 %
November 2015 Year-Over-Year Per Cent Change in the MLS® HPI

Composite (All
Types)
Single-Family
Detached
Single-Family
Attached
Townhouse
Apartment
TREB Total 10.29 % 11.56 % 11.18 % 10.79 % 5.56 %
Halton Region 10.46 % 10.48 % 10.41 % 11.82 % -
Peel Region 9.70 % 9.70 % 10.35 % 11.22 % 6.66 %
City of Toronto 8.03 % 9.92 % 8.68 % 9.51 % 5.39 %
York Region 14.50 % 15.23 % 14.99 % 13.89 % 5.75 %
Durham Region 12.56 % 12.33 % 14.12 % 9.41 % 5.54 %
Orangeville 12.86 % 13.29 % 11.95 % - -
South Simcoe 12.58 % 11.75 % 12.94 % - -
County1

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 43,000 residential and commercial TREB Members serve consumers in the Greater Toronto Area. TREB is Canada's largest real estate board.

www.TREBHome.com

Contact Information

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