Erica Anne Cook B.P.H.E., B.A., B.Ed., Sales Representative
Gairdner and Diamond Award Winner

JOHNSTON & DANIEL A Division Of Royal LePage Real Estate Services Ltd., Brokerage

477 Mount Pleasant Road, Toronto, ON M4S 2L9

Cell: 416.903.3132

Office: 416.489.2121

Fax: 416.489.6297

TREB Market Watch February 2016

February 4, 2016 - Updated: February 4, 2016

Strong Start to 2016

 

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.

 

Source:http://www.trebhome.com/market_news/market_watch/


Tagged with: real estate 2016 real estate market homes condos buyers sellers
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