GTA REALTORS® REPORT RECORD YEAR FOR TREB MLS® HOME SALES
TORONTO, January 6, 2016 -- The second best sales result on record for December capped off a record year for TREB MLS® home sales in the GTA. Toronto Real Estate Board President Mark McLean announced that there were 4,945 sales reported in December bringing the 2015 calendar year total to 101,299 – a substantial 9.2 per cent increase compared to 2014 as a whole. Strong annual sales increases were experienced for all major home types last year.
"Home ownership is a quality long-term investment that families can live in while the value increases over time. A relatively strong regional economy in the GTA coupled with low borrowing costs kept a record number of households – first-time buyers and existing homeowners alike – confident in their ability to purchase and pay for a home over the long term," said Mr. McLean.
"If the market had benefitted from more listings, the 2015 sales total would have been greater. As it stands, we begin 2016 with a substantial amount of pent-up demand," continued Mr. McLean.
The average selling price for 2015 as a whole was $622,217 – up 9.8 per cent compared to $566,624 in 2014. The MLS® HPI Composite Benchmark Price was up by a similar annual rate of 10 per cent in December. GTA home price growth was driven by the low-rise segments of the market, but condominium apartment price growth was generally well-above the rate of inflation as well through 2015.
"TREB will release its official 2016 outlook later in January, but suffice to say that the demand for ownership housing is expected to remain very strong in 2016. Despite stricter mortgage lending guidelines and the possibility of slightly higher borrowing costs, on average, there will be many buyers who remain upbeat on the purchase of ownership housing," said Jason Mercer, TREB's Director of Market Analysis.
"Home ownership is a quality long-term investment that families can live in while the value increases over time. A relatively strong regional economy in the GTA coupled with low borrowing costs kept a record number of households – first-time buyers and existing homeowners alike – confident in their ability to purchase and pay for a home over the long term," said Mr. McLean.
"If the market had benefitted from more listings, the 2015 sales total would have been greater. As it stands, we begin 2016 with a substantial amount of pent-up demand," continued Mr. McLean.
The average selling price for 2015 as a whole was $622,217 – up 9.8 per cent compared to $566,624 in 2014. The MLS® HPI Composite Benchmark Price was up by a similar annual rate of 10 per cent in December. GTA home price growth was driven by the low-rise segments of the market, but condominium apartment price growth was generally well-above the rate of inflation as well through 2015.
"TREB will release its official 2016 outlook later in January, but suffice to say that the demand for ownership housing is expected to remain very strong in 2016. Despite stricter mortgage lending guidelines and the possibility of slightly higher borrowing costs, on average, there will be many buyers who remain upbeat on the purchase of ownership housing," said Jason Mercer, TREB's Director of Market Analysis.
Annual Summary of TREB MLS® Sales and Average Price (Calendar Year)
| |||||||||||||
2015
|
2014
| ||||||||||||
Sales
|
Average Price
|
New Listings
|
Sales
|
Average Price
|
New Listings
| ||||||||
City of Toronto ("416")
|
37,326
|
659,270
|
64,731
|
34,893
|
610,343
|
61,922
| |||||||
Rest of GTA ("905")
|
63,973
|
600,598
|
95,789
|
57,889
|
540,272
|
93,920
| |||||||
GTA
|
101,299
|
622,217
|
160,520
|
92,782
|
566,624
|
155,842
| |||||||
Annual TREB MLS® Sales & Average Price By Home Type (Calendar Year)
| |||||||||||||
Sales
|
Average Price
| ||||||||||||
416
|
905
|
Total
|
416
|
905
|
Total
| ||||||||
Detached
|
11,991
|
36,666
|
48,657
|
1,047,483
|
728,015
|
806,744
| |||||||
Yr./Yr. % Change
|
1.7%
|
10.5%
|
8.2%
|
12.6%
|
12.1%
|
11.6%
| |||||||
Semi-Detached
|
3,646
|
6,571
|
10,217
|
736,082
|
492,643
|
579,516
| |||||||
Yr./Yr. % Change
|
2.2%
|
7.3%
|
5.4%
|
10.3%
|
11.0%
|
10.1%
| |||||||
Townhouse
|
3,977
|
11,857
|
15,834
|
542,406
|
449,218
|
472,624
| |||||||
Yr./Yr. % Change
|
8.0%
|
9.8%
|
9.3%
|
10.0%
|
10.4%
|
10.2%
| |||||||
Condo Apartment
|
17,404
|
7,327
|
24,731
|
405,589
|
317,572
|
379,512
| |||||||
Yr./Yr. % Change
|
12.0%
|
15.0%
|
12.9%
|
5.0%
|
5.0%
|
4.9%
| |||||||
Summary of TorontoMLS Sales and Average Price December 1 - 31, 2015
| ||||||
2015
|
2014
| |||||
Sales
|
Average Price
|
New Listings
|
Sales
|
Average Price
|
New Listings
| |
City of Toronto ("416")
|
1,999
|
626,942
|
2,029
|
1,755
|
572,111
|
1,885
|
Rest of GTA ("905")
|
2,946
|
597,009
|
2,754
|
2,663
|
545,812
|
2,528
|
GTA
|
4,945
|
609,110
|
4,783
|
4,418
|
556,259
|
4,413
|
TorontoMLS Sales & Average Price By Home Type December 1 - 31, 2015
| ||||||
Sales
|
Average Price
| |||||
416
|
905
|
Total
|
416
|
905
|
Total
| |
Detached
|
571
|
1,563
|
2,134
|
1,039,638
|
747,229
|
825,470
|
Yr./Yr. % Change
|
10.9%
|
8.5%
|
9.2%
|
11.8%
|
11.7%
|
11.9%
|
Semi-Detached
|
158
|
319
|
477
|
743,738
|
495,551
|
577,760
|
Yr./Yr. % Change
|
23.4%
|
12.7%
|
16.1%
|
20.8%
|
9.8%
|
15.0%
|
Townhouse
|
215
|
577
|
792
|
535,283
|
451,971
|
474,588
|
Yr./Yr. % Change
|
23.6%
|
16.6%
|
18.4%
|
12.7%
|
6.9%
|
8.8%
|
Condo Apartment
|
1,038
|
426
|
1,464
|
400,088
|
325,036
|
378,249
|
Yr./Yr. % Change
|
12.5%
|
16.4%
|
13.6%
|
3.2%
|
8.2%
|
4.2%
|
December 2015 Year-Over-Year Per Cent Change in the MLS® HPI
| |||||
Composite (All Types)
|
Single-Family Detached
|
Single-Family Attached
|
Townhouse
|
Apartment
| |
TREB Total
|
10.01%
|
11.57%
|
11.02%
|
10.62%
|
4.70%
|
Halton Region
|
10.31%
|
10.28%
|
10.42%
|
11.11%
|
-
|
Peel Region
|
9.60%
|
10.20%
|
10.28%
|
10.65%
|
5.64%
|
City of Toronto
|
7.66%
|
10.05%
|
8.59%
|
9.02%
|
4.30%
|
York Region
|
14.31%
|
14.82%
|
14.57%
|
16.47%
|
6.49%
|
Durham Region
|
12.27%
|
12.25%
|
13.80%
|
9.31%
|
5.36%
|
Orangeville
|
11.70%
|
11.95%
|
10.81%
|
-
|
-
|
South Simcoe County1
|
13.99%
|
12.88%
|
15.38%
|
-
|
-
|
1South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and NewTecumseth
| |||||
No comments:
Post a Comment