Pamela Vasiliu
Sales Representative
pvasiliu@remax.net

RE/MAX Professionals Inc.
Brokerage
Independently owned and operated.

Date: Thursday August the 17th, 2017 
416-236-1241

 

   

July-2015 Market Update

July 11, 2015 - Updated: July 11, 2015

 

TORONTO, July 7, 2015 -- 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.

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.

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.

 

Bank Of Canada Overnight Rate

June 2015

0.75%

Prime Rate

June 2015

2.85%

 

 

Mortgage Rates 

June 2015                      

 1 Yr. 2.89%  

 3 Yr. 3.39% 

 5 Yr. 4.64% 

 

 

 

Sales & Average Price By Major Home Type1,7 June 2015 

 

Type

416

905

Total

416

905

Total

 

Detached

Yr./Yr.%Change

1,488

13.7%

4,457

20.0%

5945

18.3%

$1051912

14.2%

$738,016

15.0%

$816583

14.3%

 

Semi-Detached

Yr./Yr. % Change

456

1.8%

754

10.6%

1,210

7.1%

$761,819

13.2%

$496,740

10.7%

$596,638

11.0%

Townhouse

Yr./Yr.% Change

509

21.2%

1396

18.4%

1,905

19.1%

$539,259

10.8%

$459,004

14.0%

$480,447

13.1%

Condo

Yr./YR.% Change

1906

21.3%

794

25.2%

2700

22.4%

$418,599

7.0%

$4324,388

4.6%

$390,894

6.3%

 

 

 

 

 

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