Cindie Carr-Harris
Sales Representative

Bosley Real Estate Ltd., Brokerage
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TORONTO REAL ESTATE BOARD OCTOBER MARKET WATCH
Monday, 07 November 2016, 02:25:00 PM

TORONTO, November 3, 2016 – Toronto Real Estate Board President Larry Cerqua

announced that Greater Toronto Area REALTORS® reported a record 9,768 sales

through TREB’s MLS® System in October 2016 – up by 11.5 per cent compared to

October 2015. For the TREB market area as a whole, the largest annual rate of sales

growth was in the condominium apartment market segment. Detached home sales were

up by 10 per cent year-over-year, driven predominantly by transactions in the regions

surrounding Toronto.

“The record pace of GTA home sales continued in October, with strong growth observed

throughout the month. As we move through November and December, we will be

watching the sales and listings trends closely, in light of the recent policy changes

announced by the Federal Minister of Finance. TREB will once again be conducting

consumer survey work, in order to report on home buying intentions for 2017,” said Mr.

Cerqua.

The MLS® Home Price Index Composite Benchmark was up by 19.7 per cent on a yearover-

year basis in October 2016. Similarly, the average selling price for all home types

combined was $762,975 – up 21.1 per cent over the same time period. Double-digit

increases were experienced for all major home types for the TREB Market Area as a

whole.

“New listings were up slightly in October compared to last year, but not nearly enough to

offset the strong sales growth. This meant that seller’s market conditions continued to

prevail as buyers of all home types experienced intense competition in the marketplace.

Until we experience sustained relief in the supply of listings, the potential for strong annual

rates of price growth will persist, especially in the low-rise market segments,” said Jason

Mercer, TREB’s Director of Market Analysis.

 

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TORONTO REAL ESTATE BOARD SEPTEMBER MARKET WATCH
Thursday, 06 October 2016, 03:00:00 PM

TORONTO, October 5, 2016 - Toronto Real Estate Board President Larry Cerqua

announced that Greater Toronto Area REALTORS® reported 9,902 sales through TREB’s

MLS® System in September 2016. This result was up by 21.5 per cent compared to

September 2015.

For the region as a whole, strong annual rates of sales growth were experienced for all

major home types. The pace of detached sales growth was slower in the City of Toronto

and the number of semi-detached sales was down compared to last year. In both cases,

the year-over-year dip in new listings was likely the issue.

“We continued to see strong demand for ownership housing up against a short supply of

listings in the Greater Toronto Area in September. The sustained lack of inventory in

many neighbourhoods across the GTA continued to underpin high rates of price growth for

all home types,” said Mr. Cerqua.

Both the MLS® Home Price Index (HPI) Composite Benchmark and the average selling

price for all home types combined were up strongly on a year-over-year basis in

September. The MLS® HPI Composite Benchmark grew by 18 per cent compared to

September 2015. The average selling price was up by 20.4 per cent to $755,755. It is

important to remember that the MLS® HPI provides a price growth measure for a

benchmark home, thereby allowing for an apples-to-apples comparison from one year to

the next. The average selling price can be influenced by changes in both market

conditions and the mix of homes sold.

“The Toronto Real Estate Board will be closely monitoring how the recent changes to

Federal mortgage lending guidelines and capital gains tax exemption rules impact the

housing market in the Greater Toronto Area. While these changes are pointed at the

demand for ownership housing, it is important to note that much of the upward pressure

on home prices in the GTA has been based on the declining inventory of homes available

for sale,” said Jason Mercer, TREB’s Director of Market Analysis.

 

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TORONTO REAL ESTATE BOARD AUGUST MARKET WATCH
Wednesday, 07 September 2016, 11:10:00 AM

TORONTO, ONTARIO, September 7, 2016 – Toronto Real Estate Board President Larry

Cerqua announced that Greater Toronto Area REALTORS® reported a record 9,813 sales

through TREB’s MLS® System in August 2016.

While this sales result was 23.5 per cent above the number of transactions reported for

August 2015, it is important to note that the majority of sales are reported on working days

and there were two additional working days in August 2016 compared to 2015. When the

year-over-year discrepancy in working days is accounted for, the annual percentage

change in sales is closer to 13 per cent.

“The conditions underlying strong demand for ownership housing remained in place,

including a relatively strong regional economy, growth in average earnings and low

borrowing costs. Unfortunately, we did not see any relief on the listings front, with the

number of new listings down compared to last year. This situation continued to underpin

very strong home price growth, irrespective of home type or area,” said Mr. Cerqua.

The MLS® Home Price Index (HPI) Composite Benchmark for August 2016 was up by

17.2 per cent on a year-over-year basis. Similarly, the average selling price for all home

types combined was up by 17.7 per cent on an annual basis to $710,410. Both the MLS®

HPI benchmarks and average prices for low-rise home types were up by double digits

percentage-wise.

“Population in the GTA continues to grow. The resulting growth in households coupled

with favourable economic conditions and low borrowing costs means that we remain on

track for another record year for home sales. Against this backdrop, TREB will also be

releasing new third-party research, and consumer and REALTOR® survey results

throughout the fall and winter, with discussions focusing on foreign buying activity and

issues affecting the supply of ownership housing,” said Jason Mercer, TREB’s Director of

Market Analysis.

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