Showing posts with label TREB-average-prices-toronto-2016. Show all posts
Showing posts with label TREB-average-prices-toronto-2016. Show all posts

Monday, May 09, 2016

Annual real estate cycle for Toronto and the GTA in Ontario over the past 20 years

Greeting from Fabulous Mississauga!

The graph below clearly shows the pattern of the annual real estate cycle for Toronto, the GTA in Ontario over the past 20 years.

 
This graph shows the cycle of how average price increases in the late winter and early spring, decreases during the summer months, increases again in the fall (but usually not as high as the highest price in the spring) and then decreases again over the  early winter months. The cycle repeats itself with near certainty, year after year and has done so since at least 1995.  When will this regular price increase stop? Nobody knows for sure, but it's a very interesting trend to see the seasonal fluctuations in home prices.

The only period that didn't show this regular increase was late 2008 to early 2009 during the Global Financial Crisis when housing prices fell more than 50% in some markets in the USA and elsewhere.  We only experienced a small downward 'blip' in our prices and then the steady increase began again in the spring of 2009

The graph below shows average single family residential prices of homes for the Toronto Real Estate Board.  Or, maybe you would like to see the average prices of single family residential homes since 1985








I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
FAX 905-828-2829  CELL 416-520-1577
mark@mississauga4sale.com

Mississauga4Sale.com


Friday, May 06, 2016

Graph showing TREB Historical Average Price Data

Greeting from Fabulous Mississauga!

Below is a Graph showing TREB Historical Average Price Data

  • The graph below shows a graph of sales price data obtained directly from the Toronto Real Estate Board showing the average selling price of single family homes from 1985 to date in our GTA marketplace.
  • Note the historical trends for spring and fall price increases, where spring typically has a larger increase compared to the fall.
  • The benchmark for changes in price is chosen to be the average price of homes at the last height of the market, which was $273,698 in 1989







I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
FAX 905-828-2829  CELL 416-520-1577
mark@mississauga4sale.com

Mississauga4Sale.com


Wednesday, May 04, 2016

Toronto and GTA Home Sales Again at Record Highs for April 2016

Hello from Fabulous Mississauga!

Home sale were at record heights again last month in the GTA

Highlights of the latest report from TREB for the Residential Real Estate Market in the GTA

  • The Average price for last month was $739,082 (it was $688,181 the previous month) and this represents aver a 16.2% increase compared to the same month last year- see graph of prices here
  •  Sales volumes were 12,085 (it was 10,326 last month) and this an 7.4% increase from the same month last year 
  •  The 2015 calendar year total number of sales was 101,299 – a substantial 9.2 per cent increase compared to 2014 as a whole
  •  There were 22,575 sales in the first quarter of 2016 and the year-over-year growth rate for sales was 15.8 per cent for Q1 2016.
  •  The Bank of Canada Prime Lending Rate now stands at 2.70% steady (since July 2015) 


 See more at this page about average prices and read the TREB full price and data report below.

Read the full report below

See graphs of prices at this page



Record Home Sales in April

TORONTO, May 4, 2016 – Toronto Real Estate Board President Mark McLean announced that there were 12,085 sales reported through TREB’s MLS® System in April 2016. This result, which represented a record for the month of April, was up by 7.4 per cent in comparison to April 2015.

For the TREB market area as a whole, annual sales growth was experienced for all major home types except semi-detached houses. In the City of Toronto, sales were down for detached and semi-detached houses as well as townhouses on a year-over-year basis.

This dip in sales in the ‘416’ area code was due to a lack of low-rise listings. Many would-be buyers were not able to find a home that met their needs.

“While April’s sales result represented a new record for sales, that number could have been even higher if we had benefitted from more supply. In the City of Toronto in particular, some households have chosen not to list their home for sale because of the second substantial Land Transfer Tax and associated administration fee.

The lack of available inventory, coupled with record sales, continued to translate into robust annual rates of price growth,” said Mr. McLean.

Home selling prices continued to trend upward in April. The MLS® Home Price Index Composite Benchmark was up by 12.6 per cent year-over-year.

The average selling price was up by 16.2 per cent. The higher growth rate reported for the average home price, as compared to the MLS® HPI, points to a greater share of high-end home sales this year compared to last.

“As we move into the busiest time of the year, in terms of sales volume, strong competition between buyers will continue to push home prices higher. A greater supply of listings would certainly be welcome, but we would need to see a number of consecutive months in which listings growth outpaced sales growth before market


I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
FAX 905-828-2829  CELL 416-520-1577
mark@mississauga4sale.com

Mississauga4Sale.com


Wednesday, April 06, 2016

Residential Real Estate Market in the GTA April 2016 Highlights of the latest report from TREB

Greetings from Fabulous Mississauga!

Highlights of the latest report from TREB for the Residential Real Estate Market in the GTA

  • The Average price for last month was $688,181 (it was $685,278 the previous month) and this represents aver a 12.1% increase compared to the same month last year- see graph of prices here
  • Sales volumes were 10,326 (it was 7,621 last month) and this an 15.8% increase from the same month last year
  • The 2015 calendar year total number of sales was 101,299 – a substantial 9.2 per cent increase compared to 2014 as a whole
  • There were 22,575 sales in the first quarter of 2016 and the year-over-year growth rate for sales was 15.8 per cent for Q1 2016.
     
  • The Bank of Canada Prime Lending Rate now stands at 2.70% steady (since July 2015) read more




Strong Growth in Home Sales in March/Q1


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.


I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
FAX 905-828-2829  CELL 416-520-1577
mark@mississauga4sale.com

Mississauga4Sale.com


Friday, March 04, 2016

Highlights Latest Report from TREB Market Watch for the Residential Real Estate Market in the GTA March 2016

Highlights of the latest report from TREB for the Residential Real Estate Market in the GTA


  • The Average price for last month was $685,278 (it was $631,092 the previous month) and this represents aver a 11.1% increase compared to the same month last year

    see graph of prices here
  • Sales volumes were 7,621 (it was 4,672 last month) and this an 21.1% increase from the same month last year  
  • The Bank of Canada Prime Lending Rate now stands at 0.50% since July 2015 read more

    read more
  • See more at this page about average prices and read the TREB full price and data report below.

This is the full price and data report from TREB for last month

Record February Sales

TORONTO, March 3, 2016 – Toronto Real Estate Board President Mark McLean announced Greater Toronto Area REALTORS® reported a record number of home sales through TREB’s MLS® System in February 2016. There were 7,621 transactions reported this past February – up 21.1 per cent compared to February 2015.

The number of new listings entered into TREB’s MLS® System was also up on a year-over-year basis, but by a lesser 8.2 per cent. The fact that the annual rate of sales growth outstripped the annual rate of price growth shows a tightening of market conditions compared to last year.

“Even after accounting for the leap year day, sales were above the previous record for February set back in 2010. Sales were up strongly from the 15th day of the month onward as well, despite the new federal mortgage lending guidelines coming into effect that require at least a 10 per cent down payment on the portion of purchase prices between $500,000 and $1,000,000,” said Mr. McLean.

Seller’s market conditions continued throughout the GTA in February. Strong competition between buyers resulted in a healthy growth in selling prices. The MLS® Home Price Index (HPI) Composite Benchmark was up by 11.3 per cent year-over year.

The average selling price was up by 14.9 per cent annually to $685,278.
“Recent polling conducted for TREB by Ipsos suggested that GTA households will remain upbeat about purchasing a home in 2016. Early sales results for January and February certainly support this view. 

With strong sales up against a constrained supply of listings, home prices continued to trend strongly upward,” said Jason Mercer, TREB’s Director of Market Analysis.

All the Best!
Mark

I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987

BUS 905-828-3434
FAX 905-828-2829  CELL 416-520-1577
mark@mississauga4sale.com

Mississauga4Sale.com