Just Listed & Just Sold Reports Online
Late each evening we go live on our exclusive new members-only site with links to all residential properties in the GTA listed and sold on that day. The reports includes all listings in the Greater Toronto Area published on the Toronto Real Estate Board's MLS® system.
Just Listed Report
Just Sold Report
August 30, 2015 | Permalink
Toronto average home price up 11.7%
Greater Toronto Area Rrealtors reported 3,729 home sales through the TREB MLS® System during the first 14 days of August. This result represented an eight per cent increase compared to 3,453 sales reported for the same period in 2014.
For the TREB market area as a whole, sales were up on a year-over-year basis for all major home types. Detached and semi-detached home sales were down in the City of Toronto.
While the demand for ownership housing remained strong in the first half of August, the supply of listings continued to be an issue for many would-be home buyers. The number of new listings entered into TREB's MLS® System was up, but by a lesser annual rate compared to sales. This suggests that market conditions were tighter compared to 2014, with more competition between buyers.
With sellers’ market conditions prevalent throughout much of the Greater Toronto Area, August mid-month average selling prices were up for all major home types compared to 2014. The average selling price for all home types combined was up by 11.7 per cent year-over-year to $601,996.
It is important to note that average price growth can be driven by different factors. Over the past year, tight market conditions, with strong demand and constrained supply, have certainly underpinned much of the price growth we have experienced. However, in some market segments, including detached homes in the City of Toronto, average price growth has also been influenced by a greater share of high-end home sales this year compared to last.
At month-end, a comparison of growth in the MLS® Home Price Index (HPI) versus growth in the average price will help to differentiate between price growth based purely on market conditions and growth resulting from changes in the types of homes sold.
Record Toronto home sales continue
Toronto Real Estate Board President Mark McLean announced record home sales for the month of July. Greater Toronto Area REALTORS® reported 9,880 sales through TREB's MLS® System, representing an eight per cent increase compared to July 2014. The number of transactions were up for all major home types, including a double-digit year-over-year increase in condominium apartment sales.
"As we move towards a new record for home sales this year, it is important to point out that home ownership demand has been driven not only by low borrowing costs, but also by the fact that the GTA economy has been performing quite well, with the unemployment rate lower compared to last year. Home buyers remain confident in the long-term benefits of owning a home," said Mr. McLean.
The MLS® Home Price Index (HPI) Composite Benchmark, which accounts for benchmark home prices in communities throughout the TREB market area, was up by 9.4 per cent year-over-year in July 2015. Over the same period, the average selling price was up by a slightly greater amount, growing by 10.6 per cent annually to $609,236.
Detached homes continued to lead the way in terms of price increases, with annual growth in the average selling price outstripping growth in the MLS® HPI detached benchmark. This suggests that there continued to be a greater share of high-end homes sold this year compared to last.
"With the level of inventory in the GTA trending below two months, many listings continued to generate a lot of interest from buyers. Not surprisingly, this supported further price increases well-above the rate of inflation. Assuming similar interest rate and economic environments over the next five months, strong price growth will remain the norm for the rest of 2015," said Jason Mercer, TREB's Director of Market Analysis.
See the Toronto Real Estate Board's Market Watch report →
August 6, 2015 | Permalink
Just Listed : Just Sold : Just Facts
For those of you that would like to be able to easily and quickly reference the new MLS® listings for a geographic area here's a solution. Select/Plan Real Estate has introduced a Just Listed report as an online subscription service. The New Listings are reported early each morning with links to all of the listing published the previous day on the Toronto Real Estate Board's MLS® system. See detais on subscribing here →
There is a monthly subscription fee of $1.00 (paid $3.00 quarterly).
This is an online service with the reports appearing on the Sold.Watch website behind a login -- it does not currently include email distribution.
The greatest advantage of the Just Listed report, in my opinion, is that you can stay fully informed on the local real estate market without ever having to contact an agent. You have assurance that you will never, ever, be contacted by a salesperson or marketer because of you participation in this service.
Discover the benefits of the “logged in experience” →
July Home Prices Up 11.5%
Toronto Real Estate Board President Mark McLean announced that 4,332 sales were reported through TREB’s MLS® system by Greater Toronto Area REALTORS® during the first 14 days of July, 2015. This sales figure was up by 11.9 per cent compared to 3,871 transactions reported during the same timeframe in 2014. Over the same period, new listings were down by 5.4 per cent to 6,831.
“There are many reasons why demand for ownership housing remains strong in the GTA. The fact that we benefit from steady population growth and a strong regional economy, compared to many other parts of Canada, is clearly important. On top of this, of course, home buyers continue to benefit from historic or near-historic lows in terms of borrowing costs, which is key from an affordability perspective,” said Mr. McLean.
The average selling price for July 2015 mid-month transactions was $610,724 – up by 11.5 per cent compared to the average price of $547,777 for sales reported in the first 14 days July 2014. Year-over-year price growth was reported for all major market segments.
“The persistent lack of listings in many segments of the GTA housing market has been a key story this year. We have seen strong demand from all buyer groups – from first-time buyers through to those seeking to purchase a luxury home. The problem is that many of these would-be home buyers have not been able to strike a deal on a home that meets their needs. The lack of supply has led to increased competition between buyers and strong upward pressure on home prices,” said Jason Mercer, TREB’s Director of Market Analysis.
Toronto homes prices for June up 12.3%
Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 11,992 sales through TREB’s MLS® System in June 2015. This result represented a new record for the month of June and an 18.4 per cent increase over the June 2014 result of 10,132.
“As I begin my term as TREB President, I think it is important to point out that our region continues to grow in response to our diverse economic, ethnic and cultural bases. The GTA consistently receives international accolades as one of the best places in the world to live and do business. As the number of households grow, many of them will take advantage of the diversity of affordable home ownership opportunities that exist in Toronto and the surrounding areas,” said Mr. McLean.
Selling prices were up markedly on a year-over-year basis in June, for all major home types. The MLS® Home Price Index (HPI) Composite Benchmark was up by 8.9 per cent in comparison to June 2014. The average selling price was up by 12.3 per cent over the same period to $639,184.
High-end homes have accounted for a greater share of overall transactions this year compared to last year. This is the key reason why the average selling price has increased at a greater annual rate than the MLS® HPI Composite Benchmark.
“It is encouraging to see that new listings have edged upward so far this year, as homeowners have reacted to strong home price growth and have looked to take advantage of increased equity in their homes. However, the annual rate of sales growth continues to far outstrip listings growth, which means that there remains a lot of willing buyers in the marketplace who haven’t found a home that meets their needs. As long as this situation persists, expect home prices to trend strongly upward,” said Jason Mercer, TREB’s Director of Market Analysis.
See the Toronto Real Estate Board's Market Watch Report →
July 7, 2015 | Permalink
Record home sales continue
Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 5,661 home sales through TREB’s MLS® System during the first two weeks of June 2015. This result represented a 15.7 per cent increase compared to the same period in 2014.
“We continued to see a record pace of home sales in the first half of June, as home buyers remained upbeat on ownership housing as a quality long-term investment. Growth in home sales was widespread, with year-over-year increases for all major home types, suggesting that households from many different age groups and walks of life are active in today’s market,” said Mr. Etherington.
The average selling price for transactions reported during the first 14 days of June was $650,732 – up 12 per cent in comparison to the first 14 days of June 2014. Strong price growth was noted for low-rise home types and condominium apartments.
“The familiar story of strong demand running up against a constrained supply of homes for sale continued to play out in the first half of June. Modest growth in new listings was not enough to offset the pent-up demand that has built during the first half of 2015. As a result, strong competition between buyers continued to result in strong price growth,” said Jason Mercer, TREB’s Director of Market Analysis.
Record Toronto Home Sales in May
Toronto Real Estate Board President Paul Etherington announced 11,706 sales reported by Greater Toronto REALTORS® in May 2015. This result was up by 6.3% in comparison to 11,013 sales reported in May 2014. For the TREB market area as a whole, sales were up for all major housing types. However, in the City of Toronto, where the supply of low-rise listings has been constrained, sales were down for detached homes.
“During my tenure as TREB President over the past year, it is clear to me that ownership housing remains top of mind as a quality long-term investment for GTA households. This is why, despite a shortage of listings in some market segments, we experienced a record number of sales reported through TREB’s MLS® System for the month of May,” said Mr. Etherington.
Record May transactions, coupled with a dip in the number of homes available for sale, resulted in strong price growth. The MLS® Home Price Index (HPI) Composite Benchmark was up by 8.9 per cent year over year in May. The MLS® HPI uses benchmark homes to estimate price growth. This allows for an “apples to apples” comparison of price growth that is not affected by changes in the mix of sales activity.
The average selling price for all home types combined in May 2015 was up by 11 per cent annually to $649,599. The higher annual rate of average price growth compared to the MLS® HPI Composite Benchmark points to the fact that the proportion of high-end home sales continued to be greater compared to 2014.
“Tight market conditions, especially for singles, semis and town homes in the GTA, have resulted in strong price growth regardless of the price metric being considered. With no relief so far on the listings front, expect similar rates of price growth as we move through the remainder of 2015. At this point, a number of months where listings growth outstrips sales growth would be required to satisfy pent-up demand,” said Jason Mercer, TREB’s Director of Market Analysis.
See the Toronto Real Estate Board's Market Watch Report →