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TREB reports record home sales in 2015

Posted 3 years ago

Toronto area house hunters didn’t let the busy holiday season stand in the way of their new home purchase. The second best sales result on record for December capped off a record year for TREB MLS home sales in the GTA. The Toronto Real Estate Board reported 4,945 sales in December, bringing the 2015 calendar year total to 101,299 – a substantial 9.2 percent increase compared to 2014 as a whole. Strong annual sales increases were experienced for all major home types last year.

The average selling price for 2015 as a whole was $622,217 – up 9.8 percent compared to $566,624 in 2014. GTA home price growth was driven by the low-rise segments of the market, but condominium apartment price growth was generally well-above the rate of inflation as well through 2015.

TREB predicts that the demand for ownership housing will remain very strong in 2016. Despite stricter mortgage lending guidelines and the possibility of slightly higher borrowing costs, there will be many buyers who remain upbeat on the purchase of ownership housing.

Posted in January 2016 |

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Fifth straight month for record sales in Hamilton-Burlington

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