GTA Realtors Report Record Year for TREB MLS Home Sales

TREB President Mark McLean announced that there were 4,945 sales reported during the month of December, bringing the 2015 Calendar year total to 101,299. This figure represents a 9.2 per cent jump in comparison to 2014. Strong annual sales increases were experienced for all major home types in 2015.

Mark McLean mentioned that home ownership is a quality long-term investment that families can live in while the value increases over time. He also stated that a pretty strong regional economy in GTA along with low borrowing costs kept a large number of households such as existing homeowners and first-time buyers confident about purchasing and paying for a home over the long term.

In 2015, the average selling price as a whole was $622,217 which is equal to a 9.8 per cent increase in comparison to the average selling price of $566,624 in the year 2014.

Reference: Toronto Real Estate Board