Toronto Market Up 16.8% in a Year (June 2016)
For those who are following the market, here is a list of the average prices for single family homes in the GTA (Greater Toronto Area) in 2015 and for the first six months of 2016, as reported by the Toronto Real Estate Board.
Let’s do a calculation from last June. This will give us the “trailing 12 months”.
If we undertake that calculation, we have a $107,237.00 increase from $639,309.00 to $746,546.00, which is a 16.8% increase for the trailing 12 months.
Commonly, the real estate industry will use the trailing 12 month period as a reasonable guideline.
For those who look at the numbers here on a regular basis, it should be noted that there are frequently revised numbers and corrections published by TREB subsequently. So, for example the May number, which is first posted in June will be adjusted and republished in July. So, the numbers will always be a “little off”.
Brian Madigan LL.B., Broker