Adi Hauer
Sales Representative
416-495-3837

 

HAUER BROTHERS
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info@HauerBrothers.com 

Ingo Hauer
Broker
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 Royal LePage Terrequity Realty, Brokerage

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TORONTO RESALE HOUSING MARKET REPORT - JAN 2016

February 11, 2016 - Updated: February 11, 2016

 

TORONTO, February, 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 2016 was up by 10.7 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.

 

 

 

 

 

 

 


Tagged with: market watch toronto housing market report january 2016 resale housing market housing market toronto real estate news toronto real estate treb numbers toronto real estate board
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