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Strong Annual Rates of Sales Growth
TORONTO, December 2, 2016 -- Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 8,547 home sales through TREB's MLS® System in November 2016. This result represented a 16.5 per cent increase compared to November 2015.
For the TREB market area as a whole, sales were up on a year-over-year basis for all major home types. The strongest annual rates of sales growth were experienced for the townhouse and condominium apartment segments.
"Home buying activity remained strong across all market segments in November. However, many would-be home buyers continued to be frustrated by the lack of listings, as annual sales growth once again outstripped growth in new listings. Seller's market conditions translated into robust rates of price growth," said Mr. Cerqua.
The MLS® Home Price Index (HPI) Composite Benchmark was up by 20.3 per cent compared to November 2015. The average selling price at $776,684 was up by 22.7 per cent on a year-over-year basis.
"Recent policy initiatives seeking to address strong home price growth have focused on demand. Going forward, more emphasis needs to be placed on solutions to alleviate the lack of inventory for all home types, especially in the low-rise market segments,” said Jason Mercer, TREB’s Director of Market Analysis.
In January 2017, TREB will be releasing its second annual Market Year in Review & Outlook Report. This report will contain a more in-depth discussion on the current state and future direction of the housing market in the Greater Golden Horseshoe. Detailed findings from Member and consumer surveys conducted by Ipsos will be released, including consumer intentions, buyer profiles and foreign buying activity. The results of a TREB-commissioned study on transportation infrastructure on housing affordability will also be presented.
Summary of
TorontoMLS Sales and Average Price November 1 - 30, 2016
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2016
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2015
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Sales
|
Average Price
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New Listings
|
Sales
|
Average Price
|
New Listings
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City of Toronto ("416")
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3,376
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790,457
|
4,073
|
2,843
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653,741
|
4,104
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Rest of GTA ("905")
|
5,171
|
767,692
|
6,445
|
4,494
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619,510
|
5,436
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GTA
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8,547
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776,684
|
10,518
|
7,337
|
632,774
|
9,540
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TorontoMLS Sales & Average
Price By Home Type November 1 - 30, 2016
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|
Sales
|
Average Price
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416
|
905
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Total
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416
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905
|
Total
|
|
|
|
|
|
|
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Detached
|
1,009
|
2,881
|
3,890
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1,345,962
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957,517
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1,058,273
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Yr./Yr. % Change
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12.9%
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13.6%
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13.4%
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32.3%
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25.5%
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27.6%
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Semi-Detached
|
283
|
515
|
798
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906,353
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618,860
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720,815
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Yr./Yr. % Change
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-3.1%
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12.2%
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6.3%
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20.3%
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22.5%
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19.8%
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Townhouse
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343
|
975
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1,318
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674,761
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571,581
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598,432
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Yr./Yr. % Change
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15.1%
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15.2%
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15.2%
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22.8%
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24.1%
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23.7%
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Condo Apartment
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1,718
|
691
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2,409
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471,256
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374,792
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443,586
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Yr./Yr. % Change
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27.9%
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20.8%
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25.8%
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13.5%
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18.9%
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15.1%
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November 2016
Year-Over-Year Per Cent Change in the MLS® HPI
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|
Composite (All Types)
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Single-Family
Detached
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Single-Family
Attached
|
Townhouse
|
Apartment
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TREB Total
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20.30%
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22.89%
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21.38%
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19.58%
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13.98%
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Halton Region
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21.52%
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21.71%
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22.37%
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20.36%
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-
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Peel Region
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21.17%
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21.28%
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22.08%
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20.39%
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18.86%
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City of Toronto
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16.54%
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19.97%
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17.36%
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18.51%
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12.90%
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York Region
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24.81%
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27.14%
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24.07%
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16.58%
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13.84%
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Durham Region
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25.38%
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25.63%
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25.96%
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23.13%
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24.15%
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Orangeville
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23.25%
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24.07%
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23.29%
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-
|
-
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South Simcoe County1
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24.94%
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25.30%
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25.68%
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-
|
-
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Source: Toronto Real Estate Board
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|
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1South Simcoe includes
Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New
Tecumseth
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Source: TREB.
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Toronto,
Hamilton lead real estate recovery
Canadian home resale price gains quickened last month from the
slowest pace in almost four years led by gains in Toronto, Hamilton
and Calgary....
Toronto
real estate sales soar in July
House
sales across the GTA reached their highest levels in July for that
summer month since 2009, with a 16 per cent surge in sales. It was
the third best July for sales on record, says the Toronto Real
Estate Board....
Real
estate sales in 2013 better than expected so far, industry group
says
Canada's housing market
continues to show signs of stability as the number of homes sold so
far this year has come in slightly higher than projected, a possible
signal that the market is set for a rebound in 2014....
Toronto
Real Estate Board Says Land Transfer Tax Should Be Scrapped, Not
Capped
In light of a proposal to cap
the Toronto Land Transfer Tax, being considered by the City of
Toronto’s Executive Committee today, the Toronto Real Estate Board
(TREB) is restating its strong belief that this tax should be
phased-out....
Why
GTA housing market will stay strong in 2013
Many economists predicted a local real estate crash this
year, with prices falling by up to 25 per cent. I didn’t see that
prediction coming true and it didn’t. Nor will do I believe it will
happen in 2013. Here’s why....
Average
Home Price Up Strongly in 2012
Greater Toronto Area REALTORS® reported 3,690 sales through the
TorontoMLS system in December 2012 – down from 4,585 sales in
December 2011....
Rental
housing availability hits 12-year low
Owners of new apartment buildings across Canada are now smiling
like Cheshire cats, with rental housing availability at its lowest
point in 12 years, according to a new report from Cushman &
Wakefield Ltd....
$100,000
parking space for sale in Toronto
The cost of a Toronto parking space has risen beyond the cost of an
average car, according to a story in the Toronto Star this
week....
Strong
Average Price Growth in September
Greater Toronto Area (GTA) REALTORS® reported 5,879 transactions
through the TorontoMLS system in September 2012. The average selling
price for these transactions was $503,662, representing an increase
of more than 8.5 percent compared to last year....
GTA
Home Prices Up in July
Greater
Toronto REALTORS® reported 7,570 sales in July 2012,
representing a decline of 1.5 per cent compared to 7,683 sales
reported in July 2011. The decline was most
pronounced in the condominium apartment segment in
the City of Toronto. Total sales in the rest of the Greater Toronto
Area (GTA) were up compared to the same period last
year...
Economists
to condo investors: Smile!
Condo
investors in Toronto have every reason to be keep smiling, with two
separate bank reports suggesting their assets are almost certain to
retain their value at the same time their cash flow get buoyed by
rental demand...
Extended
low rates to benefit only some investors
Whoa! Investors expecting the Bank of Canada to up its overnight
rate this year, think again, say economists with the Bank of
Montreal...
Report:
average Canuck has 15 years left on mortgage
A new report suggesting Canadians have an average of 15
years left on their mortgage may support critics of the government
move to tighten mortgage rules...
Canadian
rental market tightens
Good news?
The rental market in Canada tightened slightly in April with the
vacancy rate dropping and average rental rates increasing, according
to Canada Mortgage and Housing Corporation...
Strong
Sales and Price Growth in May
Toronto, June 5, 2012 – Greater Toronto REALTORS® reported 10,850
transactions through the TorontoMLS system in May 2012 – an 11 per
cent increase over the 9,766 sales in May 2011. Sales growth was
strongest in the ‘905’ regions surrounding the City of Toronto...
Tight
Market Drives Double-Digit Price Growth
Greater Toronto REALTORS® reported 9,690 sales through the
TorontoMLS system in March 2012. This result was up by almost eight
per cent in comparison to the 8,986 deals reported during the same
period in 2011.
Bank
of Canada keeps interest rates on hold - April 2012
The Bank of Canada kept its trend-setting Bank Rate
at 1.25 per cent on April 17th, 2012. While this was the 13th
consecutive policy meeting in which borrowing costs have been left
unchanged, it was the first time since last September that a policy
announcement has included a reference to the possibility of a rate
hike.
Tight
Market Drives Strong Q1 Rent Increases
Greater Toronto REALTORS reported 3,804 leased condominium
partment transactions in the first quarter of 2012, up 11 per cent
from the 3,442 units rented during the first three months of 2011.
Supply
challenges lift Toronto home prices
The appetite for real estate in Toronto has continued to grow, but
supply is lagging behind, putting upward pressure on prices,
according to the latest stats.
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