Toronto Real Estate Board (TREB) Market Watch Report MARCH 2015

Toronto Real Estate Board (TREB) Market Watch Report MARCH 2015

Sales and Price Up Year-Over-Year in March 2015

Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 8,940 sales in March 2015. This result represented an 11 per cent increase compared to March 2014. Sales were up for most major home types, both in the City of Toronto and the surrounding regions. New listings were also up, but by a lesser 5.5 per cent, indicating tighter market conditions.

In March, the average selling price for all reported transactions was $613,933 – up 10 per cent year-over-year. The MLS® HPI Composite Index, which tracks benchmark homes with the same attributes from one period to the next, was up by 7.9 per cent. Average price growth was strongest for detached homes in the City of Toronto, at 15.9 per cent. Over the same period the detached MLS® HPI in the '416' area code increased 7.8 per cent.

The MLS® HPI provides a clear indication of price growth due to market forces - the relationship between demand and supply. Comparing MLS® HPI growth to average price growth provides a sense of the changing mix of home types sold from one period to the next.

"It is clear that seller's market conditions in many parts of the GTA are driving price growth. However, looking at the detached market segment in the City of Toronto in particular, growth in the average selling price outstripped growth in the MLS® HPI. This points to the fact that the mix of detached homes sold this year compared to last has shifted towards more expensive properties," said Jason Mercer, TREB's Director of Market Analysis.

Please email me if you wish to receive the complete copy of the Toronto Real Estate Board (TREB) Market Watch Report. 

Prices are going up...now is the time to buy a home, or upsize your current home.  

Buyers:  I now offer a Boutique style real estate experience.  A Boutique experience means a customized home buying program tailored for your wants and needs.  By analyzing this information, I can find you the home of your dreams.

Contact me and feel the difference.  I offer you solutions that will save you Inspection Fees, Lawyer Fees, etc.   Your Experience.  Your Choice.

Real Estate, the way it was meant to be!