Toronto Real Estate Board

Toronto Real Estate Board

February 03, 2016 07:00 ET

GTA REALTORS® Release Monthly Resale Housing Figures

TORONTO, ONTARIO--(Marketwired - Feb. 3, 2016) - Toronto Real Estate Board President Mark McLean announced Greater Toronto Area REALTORS® reported 4,672 residential transactions through TREB's MLS® System in January 2016. This result represented an 8.2 per cent increase compared to January 2015.

"It is clear that the handoff from 2015 to 2016 was a strong one. This is not surprising given that recent polling conducted for TREB by Ipsos suggested 12 per cent of GTA households were seriously considering the purchase of a home in 2016. Buying intentions are strong for this year as households continue to see home ownership as an affordable long-term investment," said McLean.

The MLS® Home Price Index Composite Benchmark Price for January 2015 was up by 11.2 per cent on a year-over-year basis. The average selling price over the same period was up by 14.1 per cent.

The difference in the annual growth rates for the MLS® HPI and average price was largely due to a greater share of high-end detached homes sold in the regions surrounding the City of Toronto this year compared to last. The MLS® HPI removes the impact of shifts in the share of different property types sold from one year to the next.

"Market conditions in January were tighter compared to a year earlier, with an annual increase in sales up against a decline in listings. This is why growth in the MLS® HPI benchmarks continued to be strong, especially for singles, semis and townhouses, where there has been a persistent lack of inventory," said Jason Mercer, TREB's Director of Market Analysis.

Summary of TorontoMLS Sales and Average Price - January 1 - 31, 2016
2016 2015
Sales Average
Price
New
Listings
Sales Average
Price
New
Listings
City of Toronto ("416") 1,699 636,728 3,757 1,544 583,084 3,901
Rest of GTA ("905") 2,973 627,871 5,200 2,774 536,139 5,646
GTA 4,672 631,092 8,957 4,318 552,925 9,547
TorontoMLS Sales & Average Price By Home Type - January 1 -31, 2016
Sales Average Price
416 905 Total 416 905 Total
Detached 496 1,613 2,109 1,061,789 783,565 848,999
Yr./Yr. % Change 11.2 % 5.4 % 6.7 % 11.6 % 20.9 % 18.5 %
Semi-Detached 122 330 452 713,972 515,024 568,723
Yr./Yr. % Change -3.2 % 14.6 % 9.2 % 7.3 % 12.8 % 9.3 %
Townhouse 172 559 731 519,732 472,039 483,261
Yr./Yr. % Change 14.7 % 8.3 % 9.8 % 1.3 % 12.0 % 9.3 %
Condo Apartment 897 405 1,302 416,104 319,855 386,165
Yr./Yr. % Change 11.6 % 3.6 % 9.0 % 8.6 % 3.1 % 7.5 %

Source: Toronto Real Estate Board

January 2016 Year-Over-Year Per Cent Change in the MLS® HPI
Composite
(All Types)
Single-
Family
Detached
Single-
Family
Attached
Townhouse Apartment
TREB Total 11.21 % 12.91 % 11.99 % 10.33 % 5.87 %
Halton Region 14.59 % 14.81 % 14.09 % 10.05 % -
Peel Region 11.19 % 11.33 % 12.51 % 9.57 % 10.96 %
City of Toronto 8.35 % 11.29 % 8.83 % 10.52 % 4.88 %
York Region 14.52 % 15.27 % 14.20 % 13.01 % 7.48 %
Durham Region 13.96 % 13.25 % 14.97 % 9.65 % 5.48 %
Orangeville 16.10 % 16.61 % 14.30 % - -
South Simcoe County(1) 17.65 % 16.18 % 17.15 % - -

Source: Toronto Real Estate Board

(1) South 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 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

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