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Record Sales in GTA September Real Estate Market

by Vlad
October 5, 2015
Category:   Market Updates
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house3TORONTO, October 5, 2015 — Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported a record number of transactions for the month of September through TREB’s MLS® System. There was a combined 8,200 home sales reported for September 2015. This result was up 2.5 per cent compared to September 2014.

TREB MLS® sales through the first nine months of 2015 amounted to 80,331, which also represented a record result and a 9.5 per cent increase compared to the first three quarters of 2014.

“We are on track for record home sales reported through TREB’s MLS® System this year. Barring a drastic shift in the economy over the next three months, total transactions reported by TREB Members in 2015 are expected to be at or near the 100,000 mark. This is a testament to the importance that GTA households put on home ownership as a long-term investment,” said Mr. McLean.

The MLS® Home Price Index (HPI) Composite Benchmark Price was up by 10.5 per cent year over year. The average selling price for all home types combined was also up by 9.2 per cent annually to $627,395. Growth in the MLS® HPI Composite Benchmark and the average price was driven by the low-rise market segments, including detached and semi-detached houses and townhouses.

“While September was the second straight month where annual growth in new listings outstripped annual growth sales, total active listings at the end of the month still remained below last year’s level. This, coupled with the record pace of sales experienced so far this year, suggests that competition between buyers will remain strong as we move into the fourth quarter. Expect strong rates of price growth to continue through the remainder of 2015 and into 2016,” said Jason Mercer, TREB’s Director of Market Analysis.

Click here to see Full Report [pdf]

Historic Annual Sales and Average Price [pdf]

 

Summary of TorontoMLS
Sales and Average Price

September 1 – 30, 2015

2015

2014

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of
Toronto (“416”)

3,137

674,922

6,816

3,051

625,971

6,571

Rest of
GTA (“905”)

5,063

597,947

9,261

4,950

542,653

9,000

GTA

8,200

627,395

16,077

8,001

574,424

15,571

 

TorontoMLS Sales & Average Price
By Home Type

September 1 – 30, 2015

Sales

Average Price

416

905

Total

416

905

Total

Detached

1,051

2,827

3,878

1,053,871

732,852

819,853

Yr./Yr. % Change

0.0%

0.9%

0.7%

10.7%

11.6%

11.2%

Semi-Detached

318

523

841

740,373

497,775

589,506

Yr./Yr. % Change

1.9%

2.5%

2.3%

7.3%

11.1%

9.2%

Townhouse

300

984

1,284

527,257

448,930

467,231

Yr./Yr. % Change

2.0%

6.3%

5.2%

10.8%

9.6%

9.7%

Condo
Apartment

1,444

608

2,052

418,603

307,295

385,623

Yr./Yr. % Change

5.6%

2.4%

4.6%

5.6%

2.2%

5.0%

 

 

Composite (All Types)

Single-Family Detached

Single-Family Attached

Townhouse

Apartment

TREB
Total

10.46%

12.01%

11.20%

9.85%

5.65%

Halton Region

9.39%

9.66%

9.77%

6.86%

Peel
Region

9.68%

10.46%

10.94%

10.04%

3.26%

City of
Toronto

8.62%

10.88%

8.54%

8.84%

5.95%

York
Region

13.95%

14.73%

14.70%

12.30%

5.52%

Durham
Region

13.51%

13.26%

14.71%

11.59%

11.58%

Orangeville

10.44%

11.24%

10.37%

South
Simcoe County1

13.31%

12.54%

14.53%

Source:
Toronto Real Estate Board

1South
Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth

Here is a video from the Toronto Real Estate Board on the September Market Watch for 2015.

Source: (All data and comments in this article is an excerpt from the  market watch report prepared by Toronto Real Estate Board)


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