NEWS RELEASE



GTA REALTORS® RELEASE MONTHLY RESALE HOUSING FIGURES

BEST RESULT ON RECORD FOR THE MONTH OF NOVEMBER

TORONTO, December 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 County1

12.58%

11.75%

12.94%

-

-