Toronto Area REALTORS® reported 7,998 residential transactions through the TREB MLS® System in August 2015.
This result represented a 5.7 per cent increase compared to 7,568 sales reported in August 2014.
On a GTA-wide basis, sales were up for all major home types.
The annual growth rate in new listings was greater than the annual growth rate in sales, but active listings at the end of August were still down compared to last year.
This suggests that sellers’ market conditions remained in place, especially where low-rise home types like singles, semis and townhouses were concerned.
As per the President of Toronto Real Estate Board Buyers in the GTA remain confident in their ability to purchase and pay for a home over the long term. They see ownership housing as a quality investment that has historically produced positive returns while at the same time providing owners with a place to live in their chosen community.
A record year for home sales continued to unfold in August as competition between buyers exerted upward pressure on selling prices.
It was encouraging to see annual growth in new listings outstrip annual growth in sales, but we will need to see this for a number of months before market conditions become more balanced,” said TREB’s Director of Market Analysis.
DOWNLOAD HERE: Newmarket Housing Report for Second Quarter 2015
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