- Home sales in the Greater Toronto Area set a new record in August 2016 with 9,813 sales, an increase of 23.5% from August 2015. However, there were two additional business days in August 2016 compared to 2015, so the annual percentage change adjusted for working days is closer to 13%.
- The average home price in the GTA rose 17.7% year-over-year to $710,410 in August 2016. Price increases were seen across all home types, with detached homes, semi-detached homes, townhouses and condominium apartments all seeing double digit price growth.
- Low borrowing costs, employment and wage growth have continued to support strong demand for ownership housing. However,
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TREB Market Watch - August 2016
1. Toronto Employment
Growth
July 2016 1.2%
Month August 2016
1 Year
3 Year
5 Year
3.14%
3.39%
4.74%
August 2016
1 Year
3 Year
5 Year
--
--
--
Market Watch
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(416) 443-8152
Strong Sales & Price Growth in August
TORONTO, ONTARIO, September 7, 2016 – Toronto Real Estate Board President Larry Cerqua
announced that Greater Toronto Area REALTORS® reported a record 9,813 sales through
TREB’s MLS® System in August 2016.
While this sales result was 23.5 per cent above the number of transactions reported for August
2015, it is important to note that the majority of sales are reported on working days and there
were two additional working days in August 2016 compared to 2015. When the year-over-year
discrepancy in working days is accounted for, the annual percentage change in sales is closer to
13 per cent.
“The conditions underlying strong demand for ownership housing remained in place, including a
relatively strong regional economy, growth in average earnings and low borrowing costs.
Unfortunately, we did not see any relief on the listings front, with the number of new listings
down compared to last year. This situation continued to underpin very strong home price
growth, irrespective of home type or area,” said Mr. Cerqua.
The MLS® Home Price Index (HPI) Composite Benchmark for August 2016 was up by 17.2 per
cent on a year-over-year basis. Similarly, the average selling price for all home types combined
was up by 17.7 per cent on an annual basis to $710,410. Both the MLS® HPI benchmarks and
average prices for low-rise home types were up by double digits percentage-wise.
“Population in the GTA continues to grow. The resulting growth in households coupled with
favourable economic conditions and low borrowing costs means that we remain on track for
another record year for home sales. Against this backdrop, TREB will also be releasing new
third-party research, and consumer and REALTOR® survey results throughout the fall and
winter, with discussions focusing on foreign buying activity and issues affecting the supply of
ownership housing,” said Jason Mercer, TREB’s Director of Market Analysis.
TREB MLS® Sales Activity
9,813
7,943
August 2016 August 2015
TREB MLS® Average Price
$710,410
$603,534
August 2016 August 2015
Year-Over-Year Summary
2016 2015 % Chg.
Sales
New Listings
Active Listings
Average Price
Average DOM
9,813 7,943 23.5%
12,409 12,564 -1.2%
9,949 15,997 -37.8%
$710,410 $603,534 17.7%
18 23 -21.7%
Sources and Notes:
i - Statistics Canada, Quarter-over-quarter
growth, annualized
ii - Statistics Canada, Year-over-year
growth for the most recently reported
month
iii - Bank of Canada, Rate from most
recent Bank of Canada announcement
iv - Bank of Canada, Rates for most
recently completed month
Real GDP Growth
Q2 2016 (1.6%)
Toronto Unemployment
Rate
July 2016 6.4%
Inflation Rate (Yr./Yr. CPI
Growth)
July 2016 1.3%
Bank of Canada Overnight
Rate
August 2016 -- 0.50%
Prime Rate
August 2016 -- 2.70%
Economic Indicators
Metrics Sales Average Price
416 905 Total 416 905 Total
2016
Detached
Semi - Detached
Townhouse
Condo Apartment
863 3,586 4,449 $1,206,637 $905,610 $964,002
208 651 859 $774,700 $594,033 $637,780
357 1,154 1,511 $614,638 $536,256 $554,775
1,964 822 2,786 $446,612 $349,194 $417,869
Sales & Average Price By Major Home Type
August 2016
August 2016
i
ii
ii
iii
iv
Detached
Semi - Detached
Townhouse
Condo Apartment
18.3% 23.3% 21.5%
16.4% 20.6% 17.6%
16.9% 18.4% 17.7%
9.8% 9.2% 9.8%
Detached
Semi - Detached
Townhouse
Condo Apartment
14.8% 24.0% 22.1%
-8.8% 15.6% 8.6%
14.1% 25.8% 22.8%
33.5% 28.6% 32.0%
1,7
1,7
1,7
1,7
Year-Over-Year Per Cent Change
Mortgage Rates
2. Toronto Real Estate Board
Market Watch, August 2016
SALES BY PRICE RANGE AND HOUSE TYPE AUGUST 2016
2
Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total
$0 to $99,999
$100,000 to $199,999
$200,000 to $299,999
$300,000 to $399,999
$400,000 to $499,999
$500,000 to $599,999
$600,000 to $699,999
$700,000 to $799,999
$800,000 to $899,999
$900,000 to $999,999
$1,000,000 to $1,249,999
$1,250,000 to $1,499,999
$1,500,000 to $1,749,999
$1,750,000 to $1,999,999
$2,000,000+
1 0 0 0 9 0 0 0 0 10
8 2 0 12 72 0 0 0 1 95
38 10 1 57 628 0 2 0 2 738
120 41 47 194 967 13 1 2 0 1,385
311 89 125 226 558 36 2 7 1 1,355
516 257 227 153 245 27 1 4 1 1,431
617 233 145 49 127 30 0 1 1 1,203
576 112 95 23 68 27 0 0 0 901
533 50 53 17 35 23 0 0 0 711
337 31 29 10 14 15 0 0 0 436
495 23 18 5 21 9 0 1 0 572
376 6 11 5 19 0 1 0 0 418
209 2 3 3 10 0 0 0 0 227
93 1 0 1 3 0 0 0 0 98
219 2 0 2 10 0 0 0 0 233
Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total
$0 to $99,999
$100,000 to $199,999
$200,000 to $299,999
$300,000 to $399,999
$400,000 to $499,999
$500,000 to $599,999
$600,000 to $699,999
$700,000 to $799,999
$800,000 to $899,999
$900,000 to $999,999
$1,000,000 to $1,249,999
$1,250,000 to $1,499,999
$1,500,000 to $1,749,999
$1,750,000 to $1,999,999
$2,000,000+
2 0 0 1 60 0 2 0 1 66
68 7 5 122 709 0 16 0 7 934
388 77 38 585 5,072 5 19 1 22 6,207
1,365 381 480 1,541 6,818 132 10 9 10 10,746
2,906 1,062 1,459 1,683 3,801 220 10 19 5 11,165
4,420 2,172 1,617 967 1,761 189 5 16 2 11,149
5,461 1,614 1,077 372 907 194 3 10 1 9,639
5,117 925 718 197 465 186 5 2 0 7,615
4,204 508 443 109 226 198 4 3 1 5,696
2,805 295 177 49 129 93 1 1 0 3,550
4,193 270 117 62 174 35 0 2 0 4,853
3,016 126 67 32 90 3 2 1 0 3,337
1,718 58 20 10 51 0 0 0 0 1,857
898 21 10 7 24 0 0 0 0 960
1,946 43 6 3 62 0 0 1 0 2,061
SALES BY PRICE RANGE AND HOUSE TYPE YEAR-TO-DATE, 2016
Total Sales
Share of Total Sales
Average Price
4,449 859 754 757 2,786 180 7 15 6 9,813
45.3% 8.8% 7.7% 7.7% 28.4% 1.8% 0.1% 0.2% 0.1% 100.0%
$964,002 $637,780 $627,027 $482,809 $417,869 $657,956 $504,286 $520,700 $388,500 $710,410
Total Sales
Share of Total Sales
Average Price
38,507 7,559 6,234 5,740 20,349 1,255 77 65 49 79,835
48.2% 9.5% 7.8% 7.2% 25.5% 1.6% 0.1% 0.1% 0.1% 100.0%
$951,693 $659,226 $606,914 $464,202 $408,338 $648,092 $399,714 $587,438 $295,427 $717,530
1,7
1,7
27. Toronto Real Estate Board
Market Watch, August 2016
HISTORIC ANNUAL STATISTICS
27
Year Sales Average Price
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
83,501 $315,231
84,145 $335,907
83,084 $351,941
93,193 $376,236
74,552 $379,347
87,308 $395,460
85,545 $431,276
89,096 $465,014
85,496 $497,130
87,049 $522,958
92,782 $566,624
2015 MONTHLY STATISTICS
NOTES
1 - Sales, dollar volume, average sale prices and median sale prices are based on firm transactions entered into the TREB MLS® system between the
first and last day of the month/period being reported.
2 - New listings entered into the TREB MLS® system between the first and last day of the month/period being reported.
3 - Active listings at the end of the last day of the month/period being reported.
4 - Ratio of the average selling price to the average listing price for firm transactions entered into the TREB MLS® system between the first and last day
of the month/period being reported.
5 - Average number of days on the market for firm transactions entered into the TREB MLS® system between the first and last day of the month/period
being reported.
6 - Due to past changes to TREB's service area, caution should be exercised when making historical comparisons.
7 - Past monthly and year-to-date figures are revised on a monthly basis.
8 - SNLR = Sales-to-New Listings Ratio. Calculated using a 12-month moving average (sales/new listings).
9 - Mos. Inv. = Months of Inventory. Calculated using a 12-month moving average (active listings/sales).
2016 MONTHLY STATISTICS
*For historic annual sales and average price data over a longer time frame go to:
January
February
March
April
May
June
July
August
September
October
November
December
Year to Date
4,640 $630,193
7,583 $685,738
10,264 $688,101
12,025 $739,704
12,800 $752,381
12,749 $747,115
9,961 $710,337
9,813 $710,410
- -
- -
- -
- -
79,835 $707,997
January
February
March
April
May
June
July
August
September
October
November
December
Annual
4,318 $552,925
6,294 $596,320
8,886 $613,818
11,254 $636,094
11,640 $649,648
11,905 $639,309
9,813 $608,875
7,943 $603,534
8,148 $627,828
8,759 $630,254
7,336 $632,781
4,916 $608,753
101,212 $622,120
1,6,7
1,7
1,7
http://www.torontorealestateboard.com/market_news/market_watch/historic_stats/p
df/TREB_historic_statistics.pdf
Copyright® 2016 Toronto Real Estate Board
$717,53079,835