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September 23, 2016 in Buying Toronto Real Estate, Canadian Real Estate Market, For Sale By Owner, Location, location, location, New in New Homes, Pay what you want listings, Real Estate Investments, Save on Comission Fees, Selling Toronto Real Estate, Sold Watch, Toronto MLS Listings, Toronto MLS Sales, Toronto Neighbourhoods, Toronto Real Estate Trends, Toronto Real Estate Update, What's next (in real estate) | 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.
June 18, 2015 in Toronto MLS Sales, Toronto Real Estate Board, Toronto Real Estate Update | Permalink
Toronto Real Estate Market Report
Toronto's housing market gets off to surging start in 2015
Toronto Real Estate Board President Paul Etherington announced a strong start to 2015, with robust year-over-year sales and average price growth in January. Greater Toronto Area REALTORS® reported 4,355 home sales through the TorontoMLS system during the first month of the year. This result represented a 6.1 per cent increase over January 2014. During the same period, new listings were up by 9.5 per cent.
"The January results represented good news on multiple fronts. First, strong sales growth suggests home buyers continue to see housing as a quality long-term investment, despite the recent period of economic uncertainty. Second, the fact that new listings grew at a faster pace than sales suggests that it has become easier for some people to find a home that meets their needs," said Mr. Etherington.
The average selling price for January 2015 home sales was up by 4.9 per cent year-over-year to $552,575. The MLS® Home Price Index (HPI) Composite benchmark was up by 7.5 percent compared to January 2014.
"Home price growth is forecast to continue in 2015. Lower borrowing costs will largely mitigate price growth this year, which means affordability will remain in check. The strongest rates of price growth will be experienced for low-rise home types, including singles, semis and town houses. However, robust end-user demand for condo apartments will result in above-inflation price growth in the high-rise segment as well," said Jason Mercer, TREB's Director of Market Analysis.
See the Toronto Real Estate Board's Market Watch Report »
February 5, 2015 in Toronto MLS Sales, Toronto Real Estate Board, Toronto Real Estate Market | Permalink
Toronto home sales up 10.9%
Toronto Real Estate Board President Paul Etherington announced that there were 8,051 transactions reported through the TorontoMLS system in September 2014. This result represented a 10.9 per cent increase compared to September 2013. On a year-to-date basis through the first three quarters of the year, sales were up by 6.9% annually to 73,465.
"Despite a persistent shortage of listings in some market segments, we have experienced strong growth in sales though the first nine months of 2014. This is evidence that GTA households remain upbeat about purchasing a home. The majority of home buyers purchase a home using a mortgage. The share of the average household's income dedicated to their mortgage payment remains affordable, which is why buyer interest has remained solid," said Mr. Etherington.
The average selling price for September 2014 transactions was $573,676 – up by 7.7 per cent compared to the same period in 2013. Average year-over-year price growth was strongest in the City of Toronto, both for low-rise home types like detached and semi-detached houses and for condominium apartments. The average selling price year-to-date was $563,813 – up 8.5 per cent compared to the first nine months of 2013.
"If the current pace of sales growth remains in place, we could be flirting with a new record for residential sales reported by TREB Members this year. On the pricing front, the multitude of willing buyers in the marketplace coupled with the short supply of listings will continue to translate into very strong annual rates of price growth in the fourth quarter," said Jason Mercer, TREB's Director of Market Analysis.
See the Toronto Real Estate Board's Market Watch Report [pdf] →
October 4, 2014 in Toronto MLS Sales, Toronto Real Estate Market, Toronto Real Estate Update | Permalink
Toronto Home Prices Up 10.1% in April
Toronto Real Estate Board President Dianne Usher announced that during April – the first full month of spring – Greater Toronto REALTORS® reported a 1.8 per cent year-over-year increase in sales through the TorontoMLS system. Total April 2014 sales amounted to 9,706, compared to 9,535 transactions in April 2013.
“April marked the beginning of the spring market, during which time we generally see the highest monthly sales totals in a given year. Despite the persistent shortage of listings, a substantial number of GTA residents were able to come to terms on a home that met their needs. However, sales levels would have been higher, but for the lack of supply,” said Ms. Usher.
“A number of factors underlie the constrained supply of listings. Studies and polling suggest that the additional upfront land transfer tax in the City of Toronto has prompted some households to stay put and renovate rather than list their home and move. In the broader GTA context, above-trend home sales in the years leading up to the recession have meant that many households who purchased during this period simply aren’t ready to move again,” continued Ms. Usher.
The average selling price for April 2014 sales was $577,898 – up by 10.1 per cent compared to the April 2013 average of $524,868. The MLS® Home Price Index (HPI) Composite Benchmark was up by seven per cent year-over-year. The MLS® HPI strips away price fluctuations resulting from a change in the mix of home types sold from one period to the next.
“Price growth for the GTA as a whole was driven by the single-detached, semi-detached and townhouse market segments in the City of Toronto. So far this year, there has been no relief on the listings front for these home types in many neighbourhoods in Toronto and surrounding regions. Until we see a marked and sustained increase in listings, we should expect to see the annual rate of price growth above the long-term norm,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.
See the Toronto Real Estate Board's Market Watch Report for April »
May 6, 2014 in Toronto MLS Sales, Toronto Real Estate Board, Toronto Real Estate Market | Permalink | Comments (0) | TrackBack
Toronto Home Sales & Prices Up
Greater Toronto Area Realtors reported 4,078 residential transactions through the TorontoMLS system in December 2013 – up by almost 14 per cent compared to 3,582 sales reported in December 2012. New listings entered into the TorontoMLS system were down by almost four per cent over the same period.
Total sales for calendar year 2013, at 87,111, were up by approximately two per cent compared to 85,496 transactions in calendar year 2012.
“After a slow start to the year, sales growth accelerated to a brisk pace in the second half of 2013. Despite the inclement weather in December, we finished the year with a respectable gain in transactions compared to 2012. Looking forward, I believe that home ownership in the GTA will remain affordable as borrowing costs stay low. The result could be a further increase in sales in 2014,” said Toronto Real Estate Board President Dianne Usher.
“The average selling price will be up again in 2014 and by more than the rate of inflation. The seller’s market conditions that drove price growth in the second half of 2013 will remain in place in many parts of the GTA. Some neighbourhoods, especially those characterized by low-rise home types like singles, semis and townhomes, will continue to have less than two months of inventory,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
The average selling price for December 2013 sales was $520,398 – up by 8.9 per cent compared to the average of $477,756 in December 2012. The average selling price for 2013 as a whole was $523,036, which represented an increase of 5.2 per cent compared to the calendar year 2012 average of $497,130.
See the Toronto Real Estate Board's Market Watch Report »
January 6, 2014 in Toronto MLS Sales, Toronto Real Estate Board, Toronto Real Estate Market, Toronto Real Estate Trends | Permalink | Comments (0) | TrackBack
Toronto Real Estate Remains Hot
Greater Toronto Area Realtors reported 3,158 transactions through the Toronto MLS system during the first 14 days of September 2013. This result was up by 29 per cent in comparison to September 2012. Sales were up for all major home types on a year-over-year basis. The condominium apartment segment led the way with strong sales growth in the City of Toronto.
“The strong growth in sales that we have seen over the past two-and-a-half months indicates that GTA households are approaching home ownership with a renewed sense of confidence. Prospective home buyers have taken a hard look at their household balance sheets over the past year and have found that, despite stricter lending guidelines, there are affordable property types from which to choose,” said Toronto Real Estate Board President Dianne Usher.
The number of new listings entered into the TorontoMLS system was down slightly in comparison to the same period in 2012. Strong sales growth coupled with a slight reduction in new listings points to increased competition between buyers in some market segments and the continuation of above-inflation rates of price growth. The average selling price at mid-month September was up by four per cent on an annual basis to $514,560.
“With months of inventory remaining low from a historic perspective and evidence of tighter market conditions during the summer, the only argument that makes sense is for continued home price growth in the Greater Toronto Area for the remainder of 2013,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
See Toronto Real Estate Board's report »
September 17, 2013 in Toronto MLS Sales, Toronto Real Estate Board, Toronto Real Estate Update | Permalink | Comments (0) | TrackBack
April MLS® Sales Down Slightly
Greater Toronto Realtors reported 4,260 sales through the Toronto MLS system during the first 14 days of April, representing a slight dip of less than one per cent compared to the same period in 2012. The reported sales figure did benefit from one extra working day compared to last year, because Good Friday in 2012 fell in April.
“April sales to date, which were driven by strong growth in single-detached home sales in the regions surrounding Toronto, represent a positive start to the spring market. Because market conditions have remained tight, we continue to see average price growth well above the rate of inflation for many home types,” said Toronto Real Estate Board President Ann Hannah.
The average selling price for April mid-month sales was $527,397 – up 4.3 per cent compared to $505,617 in 2012. Rates of average price growth were similar for the City of Toronto and the surrounding regions under the TREB market area.
“The annual rate of price growth so far in April is actually above TREB’s forecast of 3.5 per cent for 2013. Strong growth in the average condo apartment price in the City of Toronto was a key driver in this regard,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis
April 16, 2013 in Toronto MLS Sales, Toronto Real Estate Board, Toronto Real Estate Market | Permalink | Comments (0) | TrackBack
Properties Sold on Toronto MLS®
Information on recently sold properties in the immediate vicinity is key to determining the market value of your home. But information on sold properties is only generally available to real estate agents and real estate appraisers who use the sold listing information for their own purposes.
Realtysellers is again providing reports on all of the properties sold each day on the Toronto Real Estate Board's MLS® system.
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Homes Sold Today » | Condos Sold Today »
June 24, 2011 in Toronto MLS Sales | Permalink | Comments (7) | TrackBack
