Pamela Vasiliu
Sales Representative
pvasiliu@remax.net

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

Date: Tuesday November the 21st, 2017 
416-236-1241

 

   

March 2016 Monthly Resale Housing Figiures

April 5, 2016 - Updated: April 5, 2016

TORONTO, April 5, 2016 -- Toronto Real Estate Board President Mark McLean announced record TREB MLS® home sales for the first quarter of 2016 following a strong result for March transactions.  There were 10,326 sales in March and 22,575 sales in the first quarter.  The year-over-year growth rate for sales was 15.8 per cent for Q1 2016 and 16.2 per cent for March 2016.  For the TREB market area as a whole, double-digit year-over-year rates of sales growth were experienced for all major home types during the first quarter.

 

The positive annual growth in sales was not mirrored on the listings front. The number of new listings entered into TREB's MLS® System during March and the first quarter were down compared to the same periods in 2015.

 

“At the beginning of 2016, TREB’s outlook for the year pointed to a strong possibility of a second consecutive record year for home sales.  This outlook was based, in part, on upbeat consumer survey results pointing to robust home buying intentions.  It is clear that these upbeat intentions have translated into record first quarter results,” said Mr. McLean.

 

The MLS® Home Price Index Composite Benchmark for March 2016 was up by 11.6 per cent compared to March 2015.  The average selling price for all home types combined was up 12.1 per cent year-over-year in March and 13.6 per cent in the first quarter.

 

“Demand was clearly not an issue in the first three months of 2016, regardless of the housing market segment being considered.  The supply of listings, however, continued to aggravate many would-be home buyers.  We could have experienced even stronger sales growth were it not for the constrained supply of listings, especially in the low-rise market segments.  The resulting strong competition between buyers has underpinned the double-digit rates of price growth experienced so far this year,” said Jason Mercer, TREB’s Director of Market Analysis.

 

Summary of TorontoMLS Sales and Average Price March 1 - 31, 2016

 

2016

2015

 

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

3,627

699,745

5,528

3,178

656,022

6,092

Rest of GTA ("905")

6,699

681,919

9,336

5,709

590,320

9,343

GTA

10,326

688,181

14,864

8,887

613,815

15,435

 

TorontoMLS Sales & Average Price  By Home Type March 1 - 31, 2016

 

Sales

Average Price

 

416

905

Total

416

905

Total

             

Detached

1,075

3,879

4,954

1,174,358

837,217

910,375

Yr./Yr. % Change

3.2%

14.2%

11.6%

12.4%

18.2%

15.7%

Semi-Detached

319

667

986

817,611

551,903

637,867

Yr./Yr. % Change

11.5%

25.4%

20.5%

12.9%

15.7%

13.2%

Townhouse

397

1,154

1,551

623,534

498,296

530,353

Yr./Yr. % Change

21.4%

11.4%

13.8%

13.9%

13.6%

14.1%

Condo Apartment

1,808

833

2,641

416,251

330,865

389,319

Yr./Yr. % Change

20.7%

36.1%

25.2%

4.3%

6.6%

4.3%

 


March 2016 Year-Over-Year Per Cent Change in the MLS® HPI

 

Composite (All Types)

Single-Family Detached

Single-Family Attached

Townhouse

Apartment

TREB Total

11.59%

13.05%

12.70%

11.12%

7.14%

Halton Region

10.54%

10.98%

12.39%

7.09%

-

Peel Region

11.84%

12.04%

12.42%

10.75%

9.29%

City of Toronto

9.33%

11.05%

10.29%

10.52%

6.77%

York Region

15.39%

16.62%

15.66%

14.57%

7.68%

Durham Region

14.48%

14.71%

15.47%

15.01%

1.75%

Orangeville

15.16%

15.70%

13.69%

-

-

South Simcoe County1

16.57%

16.59%

16.13%

-

-

Source: Toronto Real Estate Board

 


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