YEAR END REVIEW FOR TORONTO FOR 2016

By
Real Estate Sales Representative with BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE

The numbers are in for 2016 for the Toronto, Ontario and surrounding area and record sales have been reported.

 

Toronto Real Estate Board President Larry Cerqua announced that 2016 was a second consecutive record year for home sales.

Greater Toronto Area REALTORS® reported 113,133 home sales through TREB’s MLS® System – up by 11.8 per cent compared to 2015.

The calendar year 2016 result included 5,338 sales in December – an annual increase of 8.6 per cent.

The strongest annual rate of sales growth in 2016 was experienced for condominium apartments followed by detached homes.

“A relatively strong regional economy, low unemployment and very low borrowing costs kept the demand for ownership housing strong in the GTA, as the region’s population continued to grow in 2016,” said Mr. Cerqua.

The annual rate of growth for the MLS® Home Price Index (HPI) in the TREB market area accelerated throughout 2016 – from 10.7 per cent in January 2016 to 21 per cent in December 2016.

The overall average selling price for calendar year 2016 was $729,922 – up 17.3 per cent compared to 2015. The pace of the annual rate of growth for the average selling price also picked up throughout the year, including a climb of 20 per cent in December.

“Price growth accelerated throughout 2016 as the supply of listings remained very constrained. Active listings at the end of December were at their lowest point in a decade-and-a-half.

Total new listings for 2016 were down by almost four per cent. In 2016, we saw policy changes and policy debates pointed at the demand side of the market.

If we want to see a sustained moderation in the pace of price growth, what we really need is more policy focus on issues impacting the lack of homes available for sale,” said Jason Mercer, TREB’s Director of Market Analysis.

Posted by

                                                                                                                                                                                                                                

Mississauga and Streetsville Real Estate


When you choose me to handle your real estate needs, you choose a real estate professional who cares about you and your family, who listens to your needs and who will put your interests first and foremost. I will work together with you, protecting your interests, to achieve your objectives.

I have been uniting families and homes for more than 31 years.. Let me put my 31+ years of knowledge and experience to work for you when selling or buying your next home.

 

Proud recipient of the Platinum award for outstanding serivce with a rating of 100% voted by my clients!!

A great experience starts with a great agent !

Helping You Make The Right Move since 1987. 

Call me at (905) 896-4622 or direct at (416) 717-6331

 www.mississaugarealestateonline.com    gvalvasori@gmail.com            

              

 

No part of this publication, may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, or electronic methods, without the prior written permission of the publisher.  Copyright © 2018  Gloria Valvasori, all rights reserved.

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Ontario Peel District Mississauga Streetsville
Tags:
mississauga real estate agent
gloria valvasori streetsville real estate agent buyers in streetsville homes for sale in streetsville neighbourhood values
streetsville real estate agent gloria valvasori

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
3,865,600
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Gloria Valvasori - like the US, it seems Canada is also showing the stronger market, year over year.

Wishing you all the success in 2017 and in the years to come.

Jan 07, 2017 08:21 PM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
522,374

Gloria Valvasori, Accredited Senior Agent

REAL Experience | REAL Commitment | REAL Results!
Do you know what your home is worth in today's market?
*
*
*
*
Spam prevention

Additional Information