TREB Reports Q4 Condo Market Statistics for 2015 Toronto, January 27, 2016 -- Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 5,595 condominium apartment sales through TREB’s MLS® System during the fourth quarter of 2015. This result was up by 12.6 per cent compared to the same period in 2014. Over the same period of time, the number of new condominium apartment listings entered into TREB’s MLS® System was also up, but by a substantially lower annual rate compared to sales, at 3.3 per cent. The result was tighter market conditions compared to a year earlier. "The condominium apartment segment is integral to the overall housing market in the Greater Toronto Area. Over the past decade, the trend has been to increasingly build up due to provincial land use policies. As new projects have completed, a number of investor-held units have been listed for sale on TREB’s MLS® System. These units have been absorbed quite rapidly, with enough demand relative to supply to prompt continued price growth,” said Mr. McLean. The average selling price for condominium apartments in the fourth quarter was up by 4.1 per cent year over year to $382,070. Throughout the fourth quarter, the MLS® Home Price Index (HPI) Apartment Benchmark Price was up by between four and six per cent on an annual basis. “First-time buyers account for approximately half of all buyers in the GTA and even more so in the City of Toronto. Condominium apartments represent an important entry point into home ownership for a lot of households. This is a key reason why we experienced continued growth in sales for this home type over the past year,” said Jason Mercer, TREB’s Director of Market Analysis. Full report attached:
0 Comments
January 20, 2016 – Greater Toronto Area REALTORS® reported 1,583 sales through TREB’s MLS® System during the first 14 days of January 2016. This result represented a 15 per cent increase compared to 1,376 sales reported during the same time frame in 2015. Annual rates of sales growth were stronger in the areas surrounding the City of Toronto for all major home types. While the number of sales increased strongly on a year-over-year basis, the number of new listings reported by TREB Members was down slightly compared to the first 14 days of 2015. This suggests that market conditions were tighter this year compared to last, with more competition between buyers in many market segments and areas in the GTA. The average selling price for the first two weeks of January 2016 was $594,969 – up 16.5 per cent compared to the average of $510,575 reported for the same period in 2015. GTA-wide, the strongest annual rate of average price growth was reported for detached houses. The double-digit annual increase reported for detached homes in the ‘905’ regions was likely the result of a compositional shift in the types of homes sold this year compared to last, with a greater share of high-end homes sold in 2016. It is also important to note that growth in the average condominium apartment price also remained robust, suggesting that there is no glut in inventory within this market segment. Full report attached:
TORONTO, January 18, 2016 – Today, The Toronto Real Estate Board launched its ground-breaking Market Year in Review & Outlook report at an event in Toronto. “After a record year for home sales in 2015, another strong year is forecast for transactions reported through TREB’s MLS® System in 2016. Between 96,500 and 105,000 home sales are expected to be reported this year. Whether we see the second best year on record or a second consecutive record year will largely depend on the direction of borrowing costs and the availability of listings, particularly in the low-rise market segments,” said Jason Mercer, TREB’s Director of Market Analysis. The report provides key insight on the current state and future of the real estate market with key statistics from a never-before-seen survey of recent and intending home buyers conducted for TREB by Ipsos Reid. Home prices will continue to trend upward in 2016. The calendar year average selling price is forecast to be between $655,000 and $665,000. For the complete report... click here or email Irene at Irene@SoldByIrene.ca and I will forward it to you. My clients already have a copy... do you?
Community Meeting – Draft City Master Plan
Join us on Thursday, February 4, 2016 from 6:30 to 9 p.m. to share your thoughts on the Draft City Master Plan for 1 Port Street East. This master plan will guide the future revitalization of the site. Date: Thursday, February 4, 2016 Time: 6:30 – 9 p.m. (presentation at 7 p.m.) Location: Clarke Memorial Hall – 161 Lakeshore Road West, Mississauga Looking forward to seeing you there! 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. Download the complete report for stats on average sale price, by type of home, year-over-year percentage change, etc.
Notice from: Student and Parent Councils of Port Credit Secondary School: We invite you to help welcome the Syrian refugees to our community. We are holding a clothing (new and gently used), toiletries, bedding and towel drive, the week of January 11th through January 15th, 2016. We know all donations will be very much appreciated. Please feel free to tell your friends and extended family members that all donations are welcome. In order to safely and efficiently run this Welcome Drive, we ask that you drive through the drop off area at the front of PCSS and turn right into the east parking lot where we will have many enthusiastic student volunteers, to receive your donations. They will be available from 8:15 to 8:45 am and 2:30 to 3:15, every day January 11th-15th. Thank you very much for your consideration of participation in this great PCSS Welcome to Canada initiative. Let's show these new community members how much we care. Sincerely, PCSS Student Activity Council volunteers PCSS School Council (parent) volunteers
|
AuthorIrene Owchar is a Mississauga Realtor: "I grew up in Missy, lovin' raising my kids and working in this beautiful City." CONTENT RICH NEWSLETTERS WITH CURRENT MARKET TRENDSSign up here: Irene@SoldByIrene.ca or call/text 416 523 3425
Get your free cmaFREE
HOME BUYER SEMINAR If you are looking to buy are would like to know more about the market, contact me for the next seminar.
Please register: Irene@SoldByIrene.ca Archives
December 2018
Categories |