MAY 2017 TREB MID-MONTH STATISTICS

Thursday May 25th, 2017

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TREB STATISTICS

 

MAY 2017 TREB MID-MONTH STATISTICS

 

May 17, 2017 – Greater Toronto Area REALTORS® reported 5,021 transactions through TREB’s MLS® System during the first 14 days of May 2017. This result was down by 16 percent in comparison to the same time period in May 2016. The decline in sales was greatest for low-rise home types, including detached and semi-detached houses and townhouses.

 

The number of new listings was up by 46.9 percent year-over-year to 12,626, compared to 8,596 new listings entered during the first two weeks of May 2016. Growth in new listings was strongest for low-rise home types. From a geographic perspective, year-over-year growth in new listings was much stronger in the GTA regions surrounding the City of Toronto compared to the City itself.

 

Growth in average selling prices remained very strong compared to last year. Through the first 14 days of May, the average selling price for all home types combined was $890,284 – up 17.3 percent compared to the same period in 2016. For the TREB Market Area as a whole, the strongest rates of price growth were reported for condominium apartments, at 28.5 per cent. However, annual rates of price growth for low-rise home types remained strong as well – ranging from 16.7 percent for detached houses to 25.5 per cent for semi-detached houses.

 

While we have certainly experienced a better-supplied market over the past two months, inventory levels remain low in many neighborhoods, hence the continuation of double -digit rates of price growth. If we continue to see new listings growth outstripping sales growth we could see the pace of price growth slow

further.

Summary of TREB MLS® Sales and Average Price

 

 

 

 

May 1 - 14, 2017

 

 

 

 

 

2017

 

 

 

2016

 

 

 

Sales

Average Price New Listings

Sales

Average Price New Listings

City of Toronto ("416")

1,871

$934,710

4,172

 

2,174

$801,859

3,347

 

Rest of GTA ("905")

3,150

$863,897

8,454

 

3,802

$734,906

5,249

 

GTA

5,021

$890,284

12,626

 

5,976

$759,263

8,596

 

Source: Toronto Real Estate Board

 

 

 

 

 

 

 

 

TREB MLS® Sales & Average Price By Home Type

 

 

 

 

 

 

 

 

 

 

 

 

 

May 1 - 14, 2017

 

 

 

 

 

Sales

 

 

 

Average Price

 

 

 

416

905

Total

 

416

905

Total

Detached

575

1,865

2,440

$1,550,873

$1,046,870

$1,165,641

 

Yr./Yr. % Change

-23.8%

-17.5%

-19.1%

 

19.1%

16.7%

16.7%

 

Semi-Detached

170

268

438

$1,064,260

$700,131

$841,459

 

Yr./Yr. % Change

-18.3%

-27.8%

-24.4%

 

29.1%

19.8%

25.5%

 

Townhouse

166

571

737

 

$722,928

$639,452

$658,254

 

Yr./Yr. % Change

-25.2%

-12.7%

-15.9%

 

16.4%

22.4%

20.2%

 

Condo Apartment

944

385

1,329

 

$579,589

$442,147

$539,773

 

Yr./Yr. % Change

-2.5%

-7.9%

-4.1%

 

28.1%

28.2%

28.5%

 

 

Source: Toronto Real Estate Board

 

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.