This site uses cookies.

The types of cookies we use, and the way we use them, are explained in our Privacy Policy. By clicking "Accept" or continuing to use our site, you agree to our use of Cookies.
More information


 

Brian Madigan LL.B., Broker
BRMadigan@Rogers.com

RE/MAX West Realty Inc.,
Brokerage
Independently owned and operated

96 Rexdale Blvd. 
Toronto, Ontario 


Phone: 416-745-2300

Cell: 647-404-8150 
Toll Free: 1-888-507-0817

Search in:  
    
    
       

Sort by:

June 2016 - Strong Performance TREB Comments

July 7, 2016 - Updated: July 7, 2016

June 2016 - Strong Performance TREB Comments

 

This is a copy of the published results from the Toronto Real Estate Board concerning the month of June.

 

Spring Market Capped Off with Strong June

 

TORONTO, ONTARIO, July 6, 2016 –

 

Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 12,794 residential transactions through TREB’s MLS® System in June 2016.

 

This result was 7.5 per cent higher than the 11,905 sales reported in June 2015. In line with the prevailing trend so far this year, the number of new listings was down by 3.8 per cent.

 

“As I start my term as TREB President, we are certainly in an interesting environment for ownership housing. There is no doubt that demand is at a record level, but would-be home buyers continue to face an uphill battle against a constrained supply of listings, which has perpetuated strong price growth. Buyers and sellers alike continue to benefit from the value a REALTOR® brings to a transaction,” said Mr. Cerqua. “

 

As the federal, provincial and local levels of government discuss housing policy in the coming months, issues affecting the lack of supply in the GTA should be of paramount importance. TREB will be undertaking, and making public, results of additional research in the second half of 2016, with the goal of proactively adding to the housing policy discussion,” added Mr. Cerqua.

 

The MLS® Home Price Index Composite Benchmark was up by 16 per cent on a year- overyear basis. The average selling price for all home types combined was up by a slightly higher annual rate of 16.8 per cent to $746,546.

 

The single-detached, semi- detached and townhouse market segments led the way in terms of price growth. “When TREB surveyed consumer intentions for 2016, we found that the majority of GTA households who were likely to purchase a home continued to be pointed towards some form of ground oriented housing.

 

This is why we continue to see strong competition between buyers in many neighbourhoods where supply remains constrained,” said Jason Mercer, TREB’s Director of Market Analysis.

 

Comment

 

The performance in June was strong, but as most Junes, was a little off the May numbers.

 

Traditionally, TREB compares the month of June to the month of June in the previous year.

 

That would be a little odd if we were talking about the stock market. I do appreciate that real estate is a little different, but I would make the comment that it is interesting that the numbers for June are not compared to the month of May in the same year.

 

Brian Madigan LL.B., Broker

www.iSourceRealEstate.com


Tagged with: june 2016 treb results strong performance
| | Share

Brian Madigan LL.B. Broker

RE/MAX West Realty Inc. Brokerage

Independently owned and operated

96 Rexdale Blvd. , Toronto Ontario,

Phone: 416-745-2300

BRMadigan@Rogers.com

Powered by Lone Wolf Real Estate Technologies (CMS6)