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TREB: GTA continues growth with volume up 5.7%

Toronto Real Estate Board President Mark McLean announced that TREB completed 7,998 residential transactions in August 2015, versus 7,568 in August 2014. This represents a 5.7% increase.

“Buyers in the GTA remain confident in their ability to purchase and pay for a home over the long term.  They see ownership housing as a quality investment that has historically produced positive returns while at the same time providing owners with a place to live in their chosen community,” said Mr. McLean.

Volume in sales was up across all the home types, with selling price also up. Notably, the GTA (416) passed $1,000,000 on average for a detached home.

TorontoMLS Sales & Average Price  By Home Type – August 1 – 31, 2015
Sales Average Price
416 905 Total 416 905 Total
Detached 756 2,913 3,669 1,017,652 733,577 792,111
Yr./Yr. % Change -8.5% 7.5% 3.7% 12.9% 13.8% 12.4%
Semi-Detached 231 565 796 662,968 492,428 541,919
Yr./Yr. % Change -5.7% 5.0% 1.7% 5.5% 10.5% 7.8%
Townhouse 315 931 1,246 524,136 451,311 469,721
Yr./Yr. % Change 1.3% 0.5% 0.7% 13.2% 11.0% 11.7%
Condo Apartment 1,475 643 2,118 406,587 319,764 380,228
Yr./Yr. % Change 10.1% 23.4% 13.8% 9.5% 4.1% 7.6%

“A record year for home sales continued to unfold in August as competition between buyers exerted upward pressure on selling prices.  It was encouraging to see annual growth in new listings outstrip annual growth in sales, but we will need to see this for a number of months before market conditions become more balanced,” said Jason Mercer, TREB’s Director of Market Analysis.

TorontoMLS Sales & Average Price  By Home Type – August 1 – 31, 2015
Sales Average Price
416 905 Total 416 905 Total
Detached 756 2,913 3,669 1,017,652 733,577 792,111
Yr./Yr. % Change -8.5% 7.5% 3.7% 12.9% 13.8% 12.4%
Semi-Detached 231 565 796 662,968 492,428 541,919
Yr./Yr. % Change -5.7% 5.0% 1.7% 5.5% 10.5% 7.8%
Townhouse 315 931 1,246 524,136 451,311 469,721
Yr./Yr. % Change 1.3% 0.5% 0.7% 13.2% 11.0% 11.7%
Condo Apartment 1,475 643 2,118 406,587 319,764 380,228
Yr./Yr. % Change 10.1% 23.4% 13.8% 9.5% 4.1% 7.6%

 

August 2015 Year-Over-Year Per Cent Change in the MLS® HPI
  Composite (All Types) Single-Family Detached Single-Family Attached Townhouse Apartment
TREB Total 9.99% 11.55% 10.98% 9.63% 4.66%
Halton Region 9.50% 9.82% 9.53% 6.25%
Peel Region 9.38% 10.54% 10.79% 9.23% 2.62%
City of Toronto 7.54% 9.62% 8.03% 8.89% 4.59%
York Region 14.14% 14.69% 14.58% 14.04% 7.17%
Durham Region 13.80% 13.40% 15.01% 10.92% 10.97%
Orangeville 8.00% 8.73% 8.18%
South Simcoe County1 12.79% 12.66% 12.14%
1South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and NewTecumseth
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