NEWS RELEASE



GTA REALTORS® RElease Monthly Resale Housing Figures

TORONTO, February 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 2016 was up by 10.7 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

Source: Toronto Real Estate Board

 

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

10.69%

12.33%

11.32%

9.61%

4.59%

Halton Region

19.02%

17.17%

12.63%

8.87%

-

Peel Region

10.21%

10.60%

11.55%

9.74%

5.41%

City of Toronto

7.48%

9.97%

8.51%

8.40%

4.07%

York Region

13.92%

14.57%

13.52%

12.89%

8.06%

Durham Region

12.73%

12.92%

14.54%

10.40%

6.15%

Orangeville

15.58%

15.67%

14.37%

-

-

South Simcoe County1

15.57%

14.94%

16.63%

-

-

Source: Toronto Real Estate Board

1South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth