Market Sales Report for August 2015
– Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 7,998 residential transactions through the TREB MLS® System in August 2015. This result represented a 5.7 per cent increase compared to7,568 sales reported in August 2014. On a GTA-wide basis, sales were up for all major home types.
The annual growth rate in new listings was greater than the annual growth rate in sales, but
active listings at the end of August were still down compared to last year. This suggests that
sellers’ market conditions remained in place, especially where low-rise home types like singles,
semis and townhouses were concerned.
“Buyers in the GTA remain confident in their ability to purchase and pay for a home over the
long term.They see ownership housing as a quality investment that has historically produced
positive returns while at the same time providing owners with a place to live in their chosen
community,” said Mr. McLean.
“A record year for home sales continued to unfold in August as competition between buyers
exerted upward pressure on selling prices. It was encouraging to see annual growth in new
listings outstrip annual growth in sales, but we will need to see this for a number of months
before market conditions become more balanced,” said Jason Mercer, TREB’s Director of
Overall a strong resale market continues. The Fall Market has begun and based on trends will continue to be a seller’s market in the detached and semi-detached markets. Sales continue very strong in the condo market and prices are reflecting this strength.
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