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Strong Start to 2015

 

January 2015 - Market Snapshot, Toronto Real Estate

January 2015 – Market Snapshot, Toronto Real Estate (Click to enlarge)

 

 

 

February 4, 2015 — Toronto Real Estate Board President Paul Etherington announced a strong start to 2015, with robust year-over-year sales and average price growth in January. Greater Toronto Area REALTORS® reported 4,355 home sales through the TorontoMLS system during the first month of the year. This result represented a 6.1 per cent increase over January 2014. During the same period, new listings were up by 9.5 per cent.

“The January results represented good news on multiple fronts. First, strong sales growth suggests home buyers continue to see housing as a quality long-term investment, despite the recent period of economic uncertainty. Second, the fact that new listings grew at a faster pace than sales suggests that it has become easier for some people to find a home that meets their needs,” said Mr. Etherington.

The average selling price for January 2015 home sales was up by 4.9 per cent year-overyear to $552,575. The MLS® Home Price Index (HPI) Composite benchmark was up by 7.5 percent compared to January 2014.

“Home price growth is forecast to continue in 2015. Lower borrowing costs will largely mitigate price growth this year, which means affordability will remain in check. The strongest rates of price growth will be experienced for low-rise home types, including singles, semis and town houses. However, robust end-user demand for condo apartments will result in above-inflation price growth in the high-rise segment as well,” said Jason Mercer, TREB’s Director of Market Analysis.

Click here to see full January 2015 report. [pdf]

Click here to see my JANFEB2015 Newsletter [pdf]

ARCHIVES

Click here to see full December 2013 report. [pdf]

Click here to see full October report. [pdf]

Click here to see full September report. [pdf]

Click here to see full August report. [pdf]

Click here to see full July report. [pdf]

Click here to see full June report. [pdf]

Click here to see full May report. [pdf]

Click here to see full April report. [pdf]

Historical Annual Sales and Average Price [pdf]

 

Toronto Market Statistics. Source Toronto Real Estate Board (TREB), Monthly Market Watch.

 

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