Market Overview

GTA REALTORS(R) Release Monthly Resale Housing Figures

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TORONTO, ONTARIO--(Marketwired - July 7, 2015) - Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS(R) reported 11,992 sales through TREB's MLS(R) System in June 2015. This result represented a new record for the month of June and an 18.4 per cent increase over the June 2014 result of 10,132.

"As I begin my term as TREB President, I think it is important to point out that our region continues to grow in response to our diverse economic, ethnic and cultural bases. The GTA consistently receives international accolades as one of the best places in the world to live and do business. As the number of households grow, many of them will take advantage of the diversity of affordable home ownership opportunities that exist in Toronto and the surrounding areas," said Mr. McLean.

Selling prices were up markedly on a year-over-year basis in June, for all major home types. The MLS(R) Home Price Index (HPI) Composite Benchmark was up by 8.9 per cent in comparison to June 2014. The average selling price was up by 12.3 per cent over the same period to $639,184.

High-end homes have accounted for a greater share of overall transactions this year compared to last year. This is the key reason why the average selling price has increased at a greater annual rate than the MLS(R) HPI Composite Benchmark.

"It is encouraging to see that new listings have edged upward so far this year, as homeowners have reacted to strong home price growth and have looked to take advantage of increased equity in their homes. However, the annual rate of sales growth continues to far outstrip listings growth, which means that there remains a lot of willing buyers in the marketplace who haven't found a home that meets their needs. As long as this situation persists, expect home prices to trend strongly upward," said Jason Mercer, TREB's Director of Market Analysis.



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Summary of TorontoMLS Sales and Average Price
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June 1 - 30
2015 2014
Average New Average New
Sales Price Listings Sales Price Listings
City of Toronto
("416") 4,406 $682,264 7,169 3,780 $618,526 6,499
Rest of GTA ("905") 7,586 $614,162 10,577 6,352 $539,806 10,134
GTA 11,992 $639,184 17,746 10,132 $569,174 16,633
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TorontoMLS Sales & Average Price By Home Type
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June 1 - 30, 2015
Sales Average Price
416 905 Total 416 905 Total

Detached $ 1,488 $ 4,457 $ 5,945 $1,051,912 $ 738,016 $ 816,583
Yr./Yr. %
Change 13.7% 20.0% 18.3% 14.2% 15.0% 14.3%
Semi-Detached $ 456 $ 754 $ 1,210 $ 761,819 $ 496,740 $ 596,638
Yr./Yr. %
Change 1.8% 10.6% 7.1% 13.2% 10.7% 11.0%
Townhouse $ 509 $ 1,396 $ 1,905 $ 539,259 $ 459,004 $ 480,447
Yr./Yr. %
Change 21.2% 18.4% 19.1% 10.8% 14.0% 13.1%
Condo
Apartment $ 1,906 $ 794 $ 2,700 $ 418,599 $ 324,388 $ 390,894
Yr./Yr. %
Change 21.3% 25.2% 22.4% 7.0% 4.6% 6.3%
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June 2015 Year-Over-Year Per Cent Change in the MLS(R) HPI
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Single- Single-
Composite Family Family
(All Types) Detached Attached Townhouse Apartment
TREB Total 8.94% 10.53% 10.09% 8.00% 3.64%
Halton Region 8.99% 9.20% 9.02% 7.10% -
Peel Region 8.62% 9.87% 9.99% 7.38% 2.43%
City of Toronto 6.58% 8.40% 7.33% 7.39% 3.64%
York Region 12.83% 13.52% 13.88% 10.55% 4.07%
Durham Region 12.35% 12.45% 13.71% 10.34% 7.10%
Orangeville 6.06% 7.03% 5.84% - -
South Simcoe
County(1) 10.62% 10.31% 9.97% - -
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(1) South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury,
Essa, Innisfil and New Tecumseth.



Greater Toronto REALTORS(R) 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 40,000 TREB Members serve consumers in the Greater Toronto Area. TREB is Canada's largest real estate board.

FOR FURTHER INFORMATION PLEASE CONTACT:
Media Inquiries: Toronto Real Estate Board
Mary Gallagher
Senior Manager Public Affairs
(416) 443-8158
maryg@trebnet.com

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