The Toronto Real Estate Board released their resale housing figures for January 2016. According to TREB’s President Mark McLean “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.”
Check out the report below.
TREB: JANUARY 2016 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 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 County1 | 17.65% | 16.18% | 17.15% | – | – |
| Source: Toronto Real Estate Board | |||||
| 1South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth
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