Toronto Real Estate Board

Toronto Real Estate Board

July 06, 2016 07:00 ET

GTA Realtors® Release Monthly Resale Housing Market Figures

TORONTO, ONTARIO--(Marketwired - July 6, 2016) - Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 12,794 residential transactions through TREB's MLS® System in June 2016. This result was 7.5 per cent higher than the 11,905 sales reported in June 2015. In line with the prevailing trend so far this year, the number of new listings was down by 3.8 per cent.

"As I start my term as TREB President, we are certainly in an interesting environment for ownership housing. There is no doubt that demand is at a record level, but would- be home buyers continue to face an uphill battle against a constrained supply of listings, which has perpetuated strong price growth. Buyers and sellers alike continue to benefit from the value a REALTOR® brings to a transaction," said Mr. Cerqua.

"As the federal, provincial and local levels of government discuss housing policy in the coming months, issues affecting the lack of supply in the GTA should be of paramount importance. TREB will be undertaking, and making public, results of additional research in the second half of 2016, with the goal of proactively adding to the housing policy discussion," added Mr. Cerqua.

The MLS® Home Price Index Composite Benchmark was up by 16 per cent on a year- over-year basis. The average selling price for all home types combined was up by a slightly higher annual rate of 16.8 per cent to $746,546. The single- detached, semi- detached and townhouse market segments led the way in terms of price growth.

"When TREB surveyed consumer intentions for 2016, we found that the majority of GTA households who were likely to purchase a home continued to be pointed towards some form of ground oriented housing. This is why we continue to see strong competition between buyers in many neighbourhoods where supply remains constrained," said Jason Mercer, TREB's Director of Market Analysis.

Summary of TorontoMLS Sales and Average Price - June 1 - 30, 2016
2016 2015
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 4,578 775,400 6,280 4,377 682,489 7,136
Rest of GTA ("905") 8,216 730,468 10,700 7,528 614,203 10,523
GTA 12,794 746,546 16,980 11,905 639,309 17,659


TorontoMLS Sales & Average Price By Home Type -- June 1 -- 30, 2016

416
Sales
905

Total

416
Average Price
905

Total
Detached
1,491

4,816

6,307

1,259,486

892,747

979,445
Yr./Yr. % Change 1.2% 8.9% 7.0% 19.6% 21.0% 19.9%
Semi-‐Detached 436 829 1,265 912,724 581,770 695,837
Yr./Yr. % Change ---4.2% 11.4% 5.5% 19.7% 17.0% 16.4%
Townhouse 444 1,446 1,890 635,164 527,824 553,040
Yr./Yr. % Change ---12.1% 4.1% ---0.2% 17.4% 14.9% 14.9%
Condo Apartment 2,182 932 3,114 448,002 359,308 421,456
Yr./Yr. % Change 15.0% 18.0% 15.8% 6.9% 10.7% 7.7%
June 2016 Year--Over--Year Per Cent Change in the MLS® HPI
Composite (All Types) Single--Family Detached Single--Family Attached Townhouse Apartment
TREB Total 15.96% 18.77% 17.65% 14.37% 7.89%
Halton Region 16.78% 17.35% 18.47% 10.82% --
Peel Region 15.99% 16.33% 17.16% 14.20% 11.95%
City of Toronto 12.68% 17.05% 14.92% 13.42% 7.20%
York Region 20.61% 22.94% 20.01% 18.42% 7.64%
Durham Region 20.43% 20.58% 21.94% 17.07% 8.90%
Orangeville 19.40% 20.75% 18.09% -- --
South Simcoe
County1 18.77% 19.07% 18.72% -- --

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 45,000 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