Real Estate Homeward Blog

MARKET UPDATE December 2015

 

 

 

MARKET UPDATE DECEMBER 2015

 

 

The Toronto Real Estate Board had the best November ever! Many are wondering why. The three most obvious reasons are: (1) Low interest rates, (2) Pent up demand from buyers, and (3) Mild weather. December promises to be busy despite the holiday season and we are on track to have the best year ever for Toronto real estate. I expect TREB will record over 100,000 sales for 2015!

 

November figures show home sales were up 6.3%, compared to November 2014, with the average selling price being 11.1% higher.

 

Home Market Indicator

                    Nov 2015                 Nov 2014               % Change

Sales                                               7,385                     6,476                           14%      

Average Price                                $632,285                  $577,502                +9.5%

Source: Toronto Real Estate Board, Jason Mercer

 

“Demand for ownership housing has remained strong in the GTA throughout 2015, with sales generally increasing at a greater annual rate compared to new listings. This means that competition between buyers has strengthened in many neighbourhoods in the City of Toronto and surrounding regions. The end result has been upward pressure on home prices well above the rate of inflation in most cases,” said Jason Mercer, TREB’s Director of Market Analysis.

 

Regards,



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Toronto Real Estate Board - IDX Last Updated: 8/18/2017 6:34:31 AM