GTA – Greater Toronto Area Real Estate Sales and Statistics

 

JANUARY 2017 TREB MID-MONTH STATISTICS

Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a
state-of-the-art Multiple Listing Service®. Over 45,000 TREB Residential and Commercial Members serve consumers in the
Greater Toronto Area. TREB is Canada’s largest real estate board.

January 20, 2017 – Greater Toronto Area REALTORS® reported 1,540 home sales through TREB’s
MLS® System during the first 14 days of January 2017. This result represented a slight decrease of 1.5
per cent compared to the first two weeks of January 2016, when 1,564 home sales were reported.

Sales were down on a year-over-year basis for detached and semi-detached houses, both in the City of
Toronto, and the surrounding regions making up the balance of TREB’s market area. This ebb in sales
likely had more to do with a lack of listings than a lack of demand. Sales for condominium apartments
and townhouses were up on an annual basis.

New listings reported by REALTORS® during the first half of January were down by 24 per cent
compared to the same period in 2016. Even with sales down slightly, the much stronger dip in new
listings meant that market conditions tightened over the past year. Tighter market conditions translated
into average low-rise home price growth above 20 per cent on an annual basis.

The average selling price for all home types combined was $692,234 during the first two weeks of
January 2017, representing a 16.3 per cent increase compared to a year earlier. Average annual rates of
price growth were driven by the low-rise market segments, but price appreciation for condominium
apartments remained above 10 per cent for the TREB market area as a whole.

Published by TREB, January 2017

 

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